PFS divests entire holding in Ind-Barath Energy for Rs 312 cr

PTC India Financial Services (PFS) today said that it has divested its entire stake in Ind-Barath Energy (Utkal) for Rs 311.93 crore.
"PTC India Financial Services Limited (PFS) is pleased to announce that it has successfully divested its entire stake in Ind-Barath Energy (Utkal) Limited (Ind-Barath) for an amount of Rs 311.93 crore," the company said in a press release.
Ind-Barath is setting up a 700-MW coal-based thermal power project in Odisha and PFS had invested a sum of Rs 105 crore in the same.
According to the statement, the current divestment of an equity investment will provide headroom for growth and the company shall leverage the same to scale up lending activity and achieve sustained growth.

PFS continues to keep a strong focus on growing its loan book, supported by increased focus on renewable energy and diversification across the energy value chain, it said.
"The exit made with a robust return on our investment will strengthen the balance sheet, augment the company's net worth, and opportunity for increased lending to upcoming power projects," said Ashok Haldia, MD and CEO, PFS, in the statement.
An NBFC promoted by PTC India, PFS has been granted the status of infrastructure finance company (IFC) by RBI. The company offers an array of financial products to infrastructure companies in the entire energy value chain.