PTC India to raise Rs 1,200 cr via QIPs

The country's top power trading firm PTC India today said that it will raise funds up to Rs 1,200 crore through qualified institutional placement (QIP).

In a filing to the Bombay Stock Exchange, the company said that shareholders and the board have approved raising of funds up to Rs 1,200 crore through QIP's.

The company would be raising Rs 400 crore through non-convertible debentures and Rs 800 crore by issuing warrants, the filing added. Qualified Institutional Placements are viable route of raising money for companies.

Shares of PTC India were trading at Rs 69.50, up 5.22 per cent on the BSE.