PTC India Financial Services-IPO Status

Company Profile: Incorporated in 2006, PTC India Financial Services Ltd (PFS) is an Indian non-banking financial institution, a subsidiary of and promoted by PTC India Limited ("PTC"). They are financial institutions in India that provide both equity and debt financing, including short-term and long-term debt, as well as structured debt financing. They are currently focusing on power generation projects in India. Thet also provide fee based syndication and advisory services as well as carbon credit financing against certified emissions reduction (CER) exclusively to the power sector.

Issue Details:    

  Issue Open:       16.03.2011- 18.03.2011
  Issue Type:       100% Book Building
  Issue Size:         156,700,000 Equity Shares of Rs. 10
  Issue Size:          Rs. 407.42 - 438.76 Crore
  Face Value:        Rs. 10 Per Equity Share
  Issue Price:        Rs. 26 - Rs. 28 Per Equity Share
  Market Lot:       250 Shares
  Minimum Order Quantity:      250 Shares
  Listing At:          BSE, NSE

** Discount of Rs 1 to the issue price is available for the retail Individual Bidders

IPO Rating: 

Organisation: CRISIL            Grade: 3 (1-5)                Indication: Average Fundamentals

Organisation: ICRA/CARE            Grade: 4 (1-5)                Indication: Above Avg Fundamentals

Over-subscription detail:

Qualified Institutional Buyers (QIBs): 2.85 Times

Non Institutional Investors: 0.22 Times

Retail Individual Investors (RIIs): 1.18 Times

Total: 1.70 Times

Our Recommendation : Avoid