PTC raises Rs 1,200 cr via QIP route

New Delhi, Jan 16 (UNI) PTC India, a leading power trading company, today said it has raised Rs 1,200 crores through the QIP route to fund its various projects including enhancing the capital adequacy.

The company has allotted 7.41 crores equity shares of Rs 10 each at an issue price of Rs 155 per share aggregating to Rs 1199.94 crores in favour of Qualified Institutional Buyers (QIBs), a company statement said.

ABN AMRO Securities (India) and Kotak Mahindra Capaital Company acted as the Book Running Lead Managers for the issue.

The company intends to use the net proceeds of the issue for capitalisation of PTC Financial Services, investment in fuel intermediation and in entities in the energy sector along with meeting the working capital requirements.

Post this issue, PTC India's paid up capital has been raised to Rs 227.41 crores from Rs 150 crores earlier.

The promoters stake in the company is at 21 per cent and public's holding is at 34 per cent. The balance is with FI's, insurance companies, banks, mutual funds, body corporates and others.

Earlier the PTC India's subsidiary -PTC India Financial Services Limited (PFS), has placed 20 per cent each with Goldman Sachs and Macquarie India Holdings Ltd.

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