PTC India considers selling controlling stake in its Financial Services arm

PTC financial Services, on standalone-basis, reported a sharp drop in annual profit to Rs 109.99 crore for FY20 from Rs 184.14 cr in FY19

PTC India Ltd is planning to divest the controlling stake in its financial services arm PTC India Financial Services (PFS).

The last day of submission of Interest by a bidder is July 31, 2020, PFC said in a filing with the BSE. PTC held a 64.99 per cent stake in its financial services arm as on March 31, 2020.

PFS stock closed 1.1 per cent lower at Rs 13.7 per share on BSE.

The requisite internal approvals have been received to reinitiate the process of exploring opportunities for monetising the Company’s investment in PFS.

PTC financial Services, on standalone-basis, reported