PTC India sells its stake in IEX for Rs 132 crore

PTC India Financial Services Limited (PFS) divested its entire stake in Indian Energy Exchange Limited (IEX) for Rs.132.54 crores. Prior to the sale, PFS' investment in IEX stood at Rs. 1.52 crores. IEX provides power trading platform for electricity trade in India, said the company in a public statement.

"The current divestment of equity investment will provide headroom for growth and the Company shall leverage the same to scale up its lending activity and achieve sustained growth," said the statement.

Ashok Haldia, MD & CEO, PFS said the exit is made at a substantial return on the investment". "It will strengthen the balance sheet, augment the company's networth, and provide the headroom for increased lending in the infrastructure sector. It has been our constant endeavor to leverage our expertise in order to deliver maximum value to the shareholders," he said.