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Wednesday, March 16, 2011
PTC India Financial Services IPO Opens
PTC India Financial Services' initial public offering, which is to raise up to . 439 crore, will open on Wednesday. A fully-owned subsidiary of power trading firm PTC India, the company has fixed a price band of . 26-28 a share for the sale of 15.67 crore shares. At the upper end of . 28, the IPO will mop up . 438.76 crore, while at the lower end it would fetch . 407.42 crore. The IPO would close on March 18. Of the total stocks on offer, 12.75 crore are fresh shares. Proceeds from the share sale would be mainly used for the company's expansion plans.
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