PTC India Financial Services 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. PTC India Financial Services has plans to launch an IPO of Rs. 600 to Rs. 700 crore this fiscal (2010-2011) for the purpose of raising funds from the primary market in order to meet its expansions plans.
At present, 77 per cent stake in the company is held by the promoters and New York Life International India Fund holds the rest 23 per cent. Post IPO, the promoters will hold 51 per cent and New York Life will hold 20 per cent stake in the company.
The IPO of PTC India Financial Services Ltd. hope to be listed in Stock Exchanges between September and November 2010 or before that.
Source : BelltheBullGoogle+