Goldman, Macquarie to buy stake in PTC arm
PTC India Financial services – a subsidiary of power trader PTC India – will soon be getting two investors on board as “strategic financial partners”.
Goldman Sachs Strategic investments and Macquarie Securities Asia will be picking up 20% each in PTC Financial services – a non banking finance company (NBFC). The total investment by the two companies could be anywhere from Rs 50-60 crore, said officials. This includes a premium of Rs 3-5 for every share of face value of Rs 10 each.
“FIPB approval for this investment has already been given. We are now finalizing the shareholder’s agreement,” said a senior official of PTC.
The balance 60% stake in the NBFC will continue to be with parent PTC India.
PTC financial services will extend equity and debt financing to power projects.
“The main objective of the company is to encourage investments in the energy sector,” said the official.
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