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PTC India Financial Services Ltd (PFS) on Tuesday said it has finalised allocation of 23.5 million equity shares to anchor investors at Rs 28 a share, including a premium of Rs 18 a piece.
Two funds from Capital International and one from Global Investment House have bagged the anchor investor portions.
HSBC Bank Mauritius Ltd A/C GMFA Asia Venture Ltd has been allocated 97,95,750 shares (41.68 per cent of the anchor investor portion). Capital International Emerging Markets Fund has been allocated 45,70,000 shares (19.44 per cent). Emerging Markets Growth Fund Inc has been allocated 91,39,250 shares (38.88 per cent).
Both these funds are managed by Capital International.
“The anchor book (of PFS) has been fully subscribed,” Dr Ashok Haldia, Wholetime Director, PTC India Financial Services, told Business Line here.
PFS is tapping into the capital market with an initial public offering of 15.67 crore shares of Rs 10 each at a price band of Rs 26-28 an equity share. A discount of Re 1 to the issue price will be offered to retail individual bidders on allotment.
The public issue will open on March 16 and close on March 18. It consists of fresh issue of 12.75 crore shares and an offer for sale of 2.92 crore shares by Macquarie India Holdings Ltd.
PTC India holds 77.6 per cent stake in PTC India Financial Services, while Macquarie India Holdings Ltd and Goldman Sachs hold 11.2 per cent each in the company.
After the IPO, PTC India's share in PTC India Financial Services would come down to 60 per cent, Macquarie India Holdings' holding to 3.5 per cent and Goldman Sachs' holding to 8.1 per cent.
PTC India Financial Services provides financial services to entities involved in the energy sector, including power projects. The company also offers non-fund based financial services to greenfield and brownfield projects.
The company hopes to raise Rs 438 crore through the issue at the higher end of the price band.
The shares will be listed on the National Stock Exchange the Bombay Stock Exchange.
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