PTC India Financial offloads 14% stake in IEX for Rs 71 cr
PTC India Financial Services, an arm of power trader PTC India, today said it has sold 14 percent stake in Indian Energy Exchange Limited (IEX) for Rs 71 crore.
New Delhi: PTC India Financial Services, an arm of power trader PTC India, today said it has sold 14 percent stake in Indian Energy Exchange Limited (IEX) for Rs 71 crore.
"PTC India Financial Services (PFS) has divested 14.01 percent stake in IEX for Rs 70.76 crore," the company said in a statement.
IEX is India’s first electricity exchange and offers an online electricity trading platform for trading, clearing, and settlement operations.
PFS divested the stake at Rs 166.51 per share, it added. However, the identity of the buyer was not disclosed. In 2011, PFS had sold a five percent stake to venture capital firms Bessemer Venture Partners and Lightspeed Venture Partners in IEX at Rs 115.41 per share.
IEX was jointly promoted by Financial Technologies (India) Ltd and PFS in 2007.
PFS is an Indian non-banking finance company promoted by PTC India Limited. It offers financial services with a focus on infrastructure development, which includes debt (short term and long term) financing and making equity investments in, private sector Indian companies in the entire energy value chain.
It received the Infrastructure Finance Company (IFC) status in financial year 2010-11.