PTC India Financial Services Limited (PFS) is entering into primary market with an Initial Public Offer (IPO) of 156,700,000 Equity Shares of Rs 10 each. The IPO is opening on 16th Mar 2011 and the shares will be available for subscription up to 18th Mar 2011. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 26 – Rs. 28 Per Equity Share. The company is likely to raise around Rs 438.76 Crore through the issue at the upper level of price band. PTC India Financial Services (PFS) is a subsidiary of PTC India. The company was established in 2008-09 for providing equity support to power projects in the country, the company also invests in renewable energy projects including wind farms and biomass projects.
The proceeds of the IPO are proposed to be utilized to augment capital base to meet future capital requirements arising out of growth in business, to achieve the benefits of listing on the Stock Exchanges and Public issue expenses.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Issue Open : 16th Mar 2011 – 18th Mar 2011
Issue Type : 100% Book Built Issue IPO
Issue Size : 156,700,000 Equity Shares of Rs 10 each
Issue Size : Rs 407.42 – Rs 438.76 Crore (Depending on the final pricing)
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 26 – Rs. 28 Per Equity Share
Minimum Bid Quantity : 250 Shares (Rs. 7000 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 7000 Shares (Rs. 196000 with 28 Lots ) @ upper level of price band
Listing At : BSE, NSE
The Book Running Lead Managers (BRLM) to the offer are Almondz Global Securities Limited, ICICI Securities Limited, JM Financial Consultants Private Limited and SBI Capital Markets Limited.
Registrar of the Issue : Karvy Computershare Private Limited Hyderabad.
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