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PTC India Financial Services said on Friday that the company has divested its entire stake in Ind-Barath Energy (Utkal) Ltd for ₹ 311.93 crore.
“The exit made with a robust return on our investment will strengthen the balance sheet, augment the company’s net worth and the opportunity for increased lending to upcoming power projects,” said Ashok Haldia, Managing Director and Chief Executive Officer, PTC India Financial Services in a statement.
PTC India Financial Services has invested ₹ 105 crore in a separate project of Ind-Barath which entails setting up of a 700 MW coal-based thermal power project in Odisha.
In a statement the company said that the divestment will provide headroom for growth and it will leverage it for scaling up its lending activity.
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