PTC to raise PE funds

By siliconindia   |   Tuesday, 02 June 2009, 00:11 IST
Printer Print Email Email
Bangalore: PTC India, which is the largest power trading solutions company in India, plans to raise private equity funding for power projects via qualified institutional placements (QIPs) of shares. "We will try to leverage it either through equity syndication or the setting of a fund. Most probably, we will go with a fund route," said T N Thakur, Chairman and Managing Director, PE fund. Recently, the company has raised five billion rupees through QIPs and an amount would go for PE funds. With an aim of selling power through PTCs trading facilities, Thakur said that the PTC India may take about 20 to 30 percent of equity stake in corncerned power projects. "We get return on equity anyway from the equity investment, but we also get those volumes for trade, which means we will get some more income through margins," says the Chairman. At present, the PTC India is assessing �about a dozen� power project proposals for investment. Striding on the growth path, the company expects to register good trade volumes in FY10. "In FY09, our growth (power trading volumes) over the previous period was almost 40 percent, we are on the growth path," said Thakur

siliconindia