PTC India Financial Services IPO: Subscribe to PTC India Fin IPO:Anand Rathi

MUMBAI: Anand Rathi has recommended investors to ‘Subscribe’ to the initial public offer of PTC India Financial Services. The company has entered the capital market to raise between Rs 407-439 crores by issuing shares in the price band of Rs 26-28 per share. Retail investors will get a discount of Re 1 to the issue price.

“Looking at the growth of the industry and the demand along with the company’s performance we expect a potential growth outlook for the company. We recommend to Long Term Subscribe,” the note said.

PTC holds 77.60%, GS strategic Investments affiliate of Goldman Sachs Group and Macquarie India Holdings each hold 11.20% in the company.

The proceeds will be used to augment the capital base to meet the future capital requirement arising out of growth in the business.

The issue closes Friday.