| Incidentally, according to the offer document of PTC, Tata Power already holds around 10 per cent stake in the company, which trades in power by buying power from generators and selling it to utilities that face shortage. It earns a commission or levies service charge on such deals. The PTC float raised Rs 93.60 crore through the offer of 5.85 crore shares. |
| Speaking at the listing ceremony in Mumbai on Wednesday, PTC chairman and managing director Tantra Narayan Thakur said the listing was delayed due to the late uploading of allotment files by the depositories. |
| Many investors' names did not match with their depository identifications (DP IDs), while in some cases there were several names bearing the same DP IDs. In such cases the system refuses to accept the data, he explained. |
| Thakur told Business Standard that the company, which has around 80 per cent market share in power trading, is all set to open representative offices in Kolkata and in the southern region. This is because the eastern region with Kolkata as the hub has surplus power which can be given to power deficit states in the western region. |
| Most of the power trading is routed through PTC, while around 10-15 per cent is done through direct deals between the supplier and the purchaser. Thakur, however, said that even this was disappearing as parties were finding it more convenient to route their deals through PTC. |
| National Thermal Power Corporation (NTPC) has also commenced power trading but in a small way, while companies such as Reliance and Adani are preparing to enter the segment. |
| At present, trading margins are at around two per cent. With competition and more players entering the sector, there is a possibility of margins getting slimmer. |
| The company is in the process of setting up a power exchange for electricity trading . The company also plans to enter into long-term structured contracts with project developers. Electricity futures, however, will still take time. |
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