Power trading solutions firm PTC India today said its subsidiary, PTC Financial Services, is likely to go public with an initial public offer in this financial year.
"Hopefully, we would come up with an IPO of PTC Financial Services this fiscal (2010-11)," PTC India Chairman and Managing Director T N Thakur told reporters here.
PTC Financial Services' present equity capital is Rs 600 crore, of which 77 per cent is held by PTC India and 11.5 per cent each by Goldman Sachs and Australia's Macquarie.
PTC Financial Services was formed in 2008-09 for providing equity support to power projects in the country.
The company is also looking at acquiring coal blocks abroad and has shortlisted mines in Australia and Indonesia, where the fuel is available in abundance.
The company will import the dry fuel from its overseas properties and sell it in India. It is keen on investing in a power exchange, a wind turbine manufacturing unit, coal-based power projects and projects involving non-conventional sources like biomass, wind and solar energy.