PTC India Fin fixes IPO price band at Rs 26-28

PTI New Delhi | Updated on March 14, 2011

PTC India Financial Services has fixed the price band for its initial public offering at Rs 26-28 per share, which would fetch the company nearly Rs 439 crore.

A fully-owned subsidiary of power trading firm PTC India, the company would be coming out with its IPO on March 16.

According to a public announcement today, the company has fixed the price band at Rs 26-28 for the sale of 15.67 crore shares. At the upper end of Rs 28, the IPO would mop up Rs 438.76 crore, while at the lower end it would fetch Rs 407.42 crore.

The IPO would close on March 18. Out of the total stocks on offer, 12.75 crore are fresh shares. Proceeds from the share sale would be mainly used for the company’s expansion plans.

PTC India Financial Services provides financial services to entities involved in the energy sector, including power projects. The company also offers non-fund based financial services to greenfield and brownfield projects.

Published on March 14, 2011

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