PTC India raise Rs 500 cr via QIP issue

Power trading firm PTC India today said it has raised Rs 499.99 crore by issuing shares to qualified institutional buyers.     

The company has raised Rs 499.99 crore by issuing over 6.66 crore equity shares through qualified institutional placement (QIP), PTC India said in a filing to the Bombay Stock Exchange.     

Shares of the company reacted positively and surged 3.62 per cent to touch a high of Rs 93. It was later trading at Rs 92.05, up 2.56 per cent on the BSE.