PTC, formerly known as Power Trading Corporation, has raised Rs 155.74 crore by diluting 40% stake in PTC Financial Services (PFS) to Goldman Sachs and Macquarie India Holdings.
As part of the agreement, the two financial investors acquired 20% stake each at Rs 16 per share which is 60% premium to the face value of the shares and pegs the company’s valuation at Rs 389.35 crore.
The firm has already picked 26% stake in Indian Energy Exchange, the country’s first power exchange. In addition, PFS is expected to invest in greenfield and brownfield power generation assets, power transmission and distribution assets, apart from energy related infrastructure assets such as gas pipelines, fuel linked ports and electricity equipment.
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