PFS to raise Rs 500 cr in equity; looks to bring down gross NPA under 4%

The company has also become the first NBFC to avail of the RBI's credit enhancement scheme by raising Rs 250 crore in bonds from LIC

PTC Financial Services (PFS) is planning to raise Rs 500 crore in equity by inducting a new partner or a combination of institutional players. It has also become the first non-banking financial company (NBFC) to avail of the Reserve Bank of India’s credit enhancement scheme by raising Rs 250 crore in bonds from Life Insurance Corporation (LIC).

“We will take in an equity partner this financial year or in the first quarter of next financial year,” Pawan Singh, PFS managing director and chief executive officer, told Business Standard.

LIC has agreed to participate with up to Rs 250 crore in