NEW DELHI: PTC India Financial Services (PFS) has fixed the price band for its initial public offering (IPO) at Rs 26-28 a share, which would fetch the company nearly Rs 439 crore.
A fully-owned subsidiary of power trading firm PTC India, the company would be coming out with its IPO on March 16.
While, at Rs 28, the company would mop up Rs 438.76 crore, at the lower end, the sale would fetch Rs 407.42 crore.
The IPO would close on March 18. Of the 15.67 crore shares on offer, 12.75 crore are fresh. Proceeds from the sale will mainly be used for the company’s expansion.
Source: Press Trust of India
