PTC India appoints SBICAPS to prepare strategic roadmap for monetizing investment in subsidiary company

PTC India Limited, the leading power trading company in India, appoints SBI Capital Markets (SBICAPS) as a consultant to support PTC in strategic analysis of one of its investments in subsidiaries / associates.

SBICAPS shall conduct an analysis of investments to suggest future strategy to be adopted for divestment / holding of the investment in its subsidiary company PTC Energy Limited.

Commenting on the above development, Dr. Rajib K Mishra, CMD (addl. Charge), PTC India Ltd., said

“PTC India Limited has appointed SBICAPS as an advisor to carry out a comprehensive strategic assessment of its key investments in subsidiary company. Given the improved operational profitability in these entities, the exercise being undertaken by SBICAPS seeks to assist PTC in their capital allocation. Amongst other things, the exercise will enable PTC to do a comprehensive review of its investments and ability to monetize them either partially or fully in the best interest of PTC shareholders.”

About PTC India Limited

PTC India Ltd.,is the pioneer in starting a power market in India. The Company has maintained its leadership position in power trading since inception. PTC has also been mandated by the Government of India to trade electricity with Bhutan, Nepal and Bangladesh. PTC India has two subsidiaries, PFS – a public listed non-banking financial institution registered with RBI and wholly owned subsidiary, PEL with wind energy assets.

The trading activities undertaken by PTC include long term trading of power generated from large power projects including renewables as well as short term trading arising as a result of supply and demand mismatches, which inevitably occur in various regions of the country.

The Company is credited with a number of products in the electricity trading market to meet the divergentneeds of the customers. Driven by the vision of shaping a vibrant power market, PTC has been providing value-added services to its clients and built trust as a reliable partner. The electricity traded from cross border resources is a significant component of the total electricity traded by the Company.

PTC is a unique example of a successful public-private partnership with major PSUs of the Ministry of Power, Government of India as promoters and a widely held ownership interest. The diverse composition of its Board of Directors includes eminent people as independent directors.