PTC India (formerly Power Trading Corporation of India) has revived plans to sell its controlling stake in its NBFC arm PTC India Financial Services.
PTC India share price rose over 4 percent and PTC India Financial Services was locked in upper circuit in early trade on July 17 after the former revived plans to sell its controlling stake in its NBFC arm.
PTC India (formerly Power Trading Corporation of India) has revived plans to sell its controlling stake in its NBFC arm PTC India Financial Services.
PTC India is desirous of divesting its controlling stake in PTC India Financial Services and hereby invites potential purchaser(s)/ investor(s) to submit their Interest by July 31, a company release said.
The PTC India board had initially proposed the divestment to shareholders on August 7, 2019 but received the requisite internal approvals after delays on account of the ongoing COVID-19 pandemic.
At 0922 hours, PTC India Financial Services was quoting at Rs 15.07, up Rs 1.37, or 10 percent. PTC India was quoting at Rs 49.95, up Rs 1.80, or 3.74 percent on the BSE.