Business Companies 30 Mar 2017 PTC India divests en ...

PTC India divests entire stake in IEX for Rs 132.54 crore

PTI
Published Mar 30, 2017, 12:01 pm IST
Updated Mar 30, 2017, 12:05 pm IST
Company said prior to the stake sale its investment in IEX stood at Rs 1.52 crore.
Representational image.
 Representational image.

New Delhi: PTC India Financial Services today said it has divested its entire stake in India Energy Exchange for Rs 132.54 crore. In a BSE filing, PTC India Financial Services said, "it has divested its entire stake in India Energy Exchange (IEX) for an amount of Rs 132.54 crore".

The company said prior to the stake sale, its investment in IEX stood at Rs 1.52 crore.

 

"The exit is made at a substantial return on our investment and will strengthen the balance sheet, augment the company's net worth and provide headroom for increased lending in infrastructure sector," PTC India Financial Services MD & CEO Ashok Haldia said.

IEX provides power trading platform for electricity trade in India. Shares of the company were trading 2.97 per cent higher at 41.55 on BSE.

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Location: India, Delhi, New Delhi




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