Power trading firm PTC India today said it will raise up to Rs 500 crore by way of allotment of shares to qualified institutional investors.
The committee of board of directors has decided to allot 6,66,65,600 shares at a price of Rs 75 per share, aggregating to Rs 499.99 crore, PTC India said in a filing to the Bombay Stock Exchange (BSE).
For the fourth quarter ended March 31, 2009, PTC India reported a 18.78 per cent decline in net profit at Rs 15.61 crore. It had a net profit of Rs 15.61 crore in the March quarter of FY'08. Total income of the company rose to Rs 1,179.63 crore in the fourth quarter, from Rs 548.23 crore in the year-ago period.
