PTC India, the nation’s largest power trader, was in talks with investors, including Hong Kong-based SAIF Partners, on selling a stake in unit PTC India Financial Services, Chairman Tantra Narayan Thakur said.
PTC India Financial Services, a company backed by Goldman Sachs Group and Macquarie Group, might sell shares to “private investors, through a public sale or both,” around September, Thakur, who is also chairman of the unit, said on Friday. “We are in talks with a few investors including SAIF about selling a stake but we haven’t finalized anything yet,” Thakur said. “We haven’t received proposals from any of the investors,” he added.
Parent PTC is trying to tap investors’ interests in India, the world’s fastest-growing economy after China and Brazil.
