PTC India decides to raise Rs 1200 crore through QIP

Submitted by Ketan Sharma on Thu, 02/05/2009 - 11:47

PTCPTC India, the leading provider of power trading solutions in India has notified that it will raise funds up to Rs 1,200 crore through qualified institutional placement (QIP).

It may be noted that, shareholders and the board have already approved raising of funds up to Rs 1,200 crore through QIPs. The company will be raising Rs 400 crore through non-convertible debentures and Rs 800 by issuing warrants.

In recently announced results, PTC has reported a jump in its net profit to Rs 23.69 crore in the third quarter ended December, up from Rs 6.2 crore in the same period the previous fiscal.

The company's net sales also witnessed an almost two-fold surge to Rs 2,116.84 crore, against Rs 733.79 crore recorded by the company in the corresponding quarter last year.


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