PTC India, the leading provider of power trading solutions in India, is planning to foray into the private equity (PE) business with an initial investment of more than Rs 5 billion, reports Business Standard.
The PE firm will in turn raise funds from other institutional investors, domestic and overseas.
The company is considering to raise up to Rs 15 billion via various routes, which will be partly used to start the PE fund.
Of this, Rs 12 billion will be raised by PTC via private placement of non convertible debentures (NCDs) and warrants. Another Rs 3 billion will be mopped up by PTC Finance Services (PFS), the financial arm of PTC India.(My Iris)