PTC India Financial Services gets anchor investors

At the top end of the price band for IPO

PTC India Financial Services (PIFSL) on Tuesday, 15 March 2011, finalized allocation of 2.35 crore equity shares to three anchor investors at the top end of the Rs 26-28 per share price band for the initial public offer. The three anchor investors are -- HSBC Bank Mauritius, Capital International and Emerging Markets Growth Fund Inc



The initial public offering (IPO) of PTC India Financial Services was subscribed 1% by 16:00 IST on the first day of issue today, 16 March 2011. The IPO received bids for 19.14 lakh shares compared with 13.31 crore shares on offer. The IPO closes on 18 March 2011. Retail investors will get a discount of Rs 1 per share to the final price discovered through the book-building route.

PIFSL is a subsidiary of and promoted by PTC, which is the market leader for power trading solutions in India. PIFSL provides both equity and debt financing, including short-term and long-term debt, as well as structured debt financing to companies with projects across the energy value chain.

PTC currently holds 77.60% of equity share capital in PIFSL. GS Strategic Investments (an affiliate of The Goldman Sachs Group, Inc.) and Macquarie India Holdings (an affiliate of The Macquarie Group) each hold 11.20% of our equity share capital.

The PIFSL IPO consists of a fresh issue of 12.75 crore equity shares and an offer for sale of 2.92 crore equity shares by Macquarie India Holdings. Post issue PTC's holding will fall to 60% from 77.6% while GS Strategic Investments' holding will fall to 8.66% from 11.2% and Macquarie India's holdings would fall to 3.46% from 11.2%.