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PTC India Financial Services Limited (PFS) has decided to set up an asset management company (AMC) that will to start with launch a private equity fund with a corpus of about Rs 250-300 crore.
This AMC will be a subsidiary of PFS.
The proposed private equity fund will put in seed money (as equity) in various energy companies, R.M.Malla, Managing Director & CEO told Business Line here on Thursday.
As much as 20 per cent of the initial corpus of the proposed private equity fund will come from PFS and its promoter company PTC India Limited put together, Malla said.
"The board of directors of PFS on Wednesday approved a proposal to set up an AMC," Malla said.
A West Asian group has evinced interest to be part of this private equity fund, he added.
For the fiscal 2013-14, PFS has reported a net profit of Rs 208 crore, which is double the net profit level of Rs 104 crore recorded in the previous year.
This non-banking finance company has declared a dividend of 10 percent for 2013-14 i.e Rs 1 per share of Rs 10 each.
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