PTC India to launch financial unit IPO by mid-March: Chairman
Power trader PTC India plans to launch the initial public share offering of its financial services unit by the middle of next month.
By PTI |
NEW DELHI: Power trader PTC India plans to launch the initial public share offering of its financial services unit by the middle of next month, its chairman said on Thursday.
The company's holding in PTC India Financial Services will drop to 60 percent from 77.6 percent now after the IPO, T.N. Thakur told reporters.
The financial unit could get $50 million in loan for 11 years from International Finance Corp, he said, adding the unit was also entered into an agreement with Germany's DEG for $26 million, 12-year loan.
State-run utilities NTPC, NHPC, Power Grid and Power Finance Corp also own stakes in PTC India.
The company's holding in PTC India Financial Services will drop to 60 percent from 77.6 percent now after the IPO, T.N. Thakur told reporters.
The financial unit could get $50 million in loan for 11 years from International Finance Corp, he said, adding the unit was also entered into an agreement with Germany's DEG for $26 million, 12-year loan.
State-run utilities NTPC, NHPC, Power Grid and Power Finance Corp also own stakes in PTC India.
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