PTC India Financial Services Limited

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PTC India Financial Services Ltd is an investment arm of PTC India Limited. It is based in New Delhi, India.


Incorporated as a wholly-owned subsidiary of PTC India in 2006, PFS commenced business in 2007. PFS is a ‘systematically important’ non-deposit taking NBFC engaged in the business of making equity investments, providing debt financing, carbon credit financing, fee-based syndication and advisory services exclusively to the power sector. In 2008, PFS diluted 22% stake for Rs 1.55 bn to private equity players Macquarie and Goldman Sachs. As on September 30, 2010, it disbursed equity investments and debt financing (long- and short-term) worth Rs 4,186 mn and Rs 6,048 mn, respectively.


PFS is promoted by PTC India as a special purpose investment vehicle to provide financial services to the entities in energy value chain, which includes investing in equity and extending debt to power projects in generation, transmission, distribution, fuel related infrastructure like gas pipelines, LNG terminals, ports, equipment manufacturers and EPC contractors, etc.


PFS also provides non-fund based financial services, adding value to greenfield and brownfield projects at various stages of growth and development.


PFS has disbursed loans worth Rs 605 crore as on September 30, 2010, out of which Rs490 crore is on a short-term basis while Rs115 crore long term. PFS has bought equity in eight out of ten sanctioned projects for Rs4 18 crore.


During H1FY11, PFS reported PAT of Rs 255 mn on a total income of Rs 536 mn. The average yield and cost of funds during the same period were 16.9% and 10.7%, respectively. The high yield is attributed to short term loans. As of H1FY11, the book value stands at Rs 15.2 per share.


PFS has a group company, PTC Energy, which acts as a co-developer of energy projects with private project developers.


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Objects of the issue:

» Augment its capital base to meet its future capital requirements arising out of growth in its business;
» To achieve the benefits of listing on the Stock Exchanges.

Company Address:

Address:
Registered Office: Second Floor,
NBCC Tower, 15, Bhikaji Cama Place, New
Delhi 110 066, India.
Phone:+91 11 4159 5122
Fax:+91 11 4165 9144
Email:complianceofficer@ptcfinancial.com
Website:www.ptcfinancial.com

IPO Details:

Information Value
Open Date16-Mar-2011
Close Date18-Mar-2011
Allotment Date28-Mar-2011
Refund Date29-Mar-2011
Listing Date30-Mar-2011
Issue PriceRs. 26 - Rs. 28
Isuue Type100% Book Building Issue
Issue Size156,700,000 Equity Shares of Rs. 10
Lot SizeNA
Max Amount for Retail Investor200000
Listing OnBSE,NSE
Lead ManagerSBI Capital Markets Ltd, JM Financial Consultants Pvt. Ltd, ICICI Securities Ltd, Almondz Global Securities Ltd & Avendus Capital Pvt. Ltd
RegistrarKarvy Computershare Private Limited
Registrar Emaileinward.ris@karvy.com
Registrar Websitewww.karvy.com
Registrar Phone+40 2342 0815-0820
Application MultipleNA
Cheque in Favour of"Escrow Account - PFS - Public Issue - R" For Retail Bidders
Listing OpenRs. 28 / Rs. 26.75 (BSE/NSE)
Listing CloseRs. 24.90 (BSE/NSE)
Listing HighRs. 28 / Rs. 27 (BSE/NSE)
Listing LowRs. 23.50 (BSE/NSE)

PTC India Financial Services Limited Grey Market Price - Premium - Rates

Warning: Do not subscribe to any IPO's on the basis of grey market price or IPO Forecast. Please check the fundamentals of the company before applying. Use grey market price as an information tool.

Date GM Premium Kostak Rate
14-Mar-2011Rs. 1 - 1.50----
15-Mar-2011Rs. 1 - 1.50----
16-Mar-2011Rs. 70 (Paise) - 1----
17-Mar-2011Rs. 70 (Paise) - 1----
18-Mar-2011Rs. 70 (Paise) - 1----
21-Mar-2011Discount----
22-Mar-2011Discount----
23-Mar-2011Discount----
24-Mar-2011Discount----
25-Mar-2011Discount----
28-Mar-2011Rs. 1 - 1.20----
29-Mar-2011Rs. 1 - 1.50----

PTC India Financial Services Limited Subscription Details:

Date Retail QIB Non Institutional Employee Overall
16-Mar-20110.050.000.00NA0.02
17-Mar-20110.190.010.00NA0.08
18-Mar-20111.182.850.22NA1.70

PTC India Financial Services Limited Basis of allotment:

PTC INDIA FINANCIAL SERVICES LIMITED

Our Company was incorporated on September 8,2006 as a public limited company, in the name of "PTC India Financial Services Limited" under the Companies Act, 1956 ("Companies Act") with the Registrar of Companies, National Capital Territory of Delhi and Haryana. There have been no changes in the name and registered office of our Company since incorporation. Registered Office: Second Floor, NBCC Tower, 15, Bhikaji Cama Place, New Delhi 110 066, India. Website: www.ptcfinancial.com, Company Secretary and Compliance Officer: Mr. Vishal Goyal; Tel.: +91 11 4159 5122; Fax: +91 11 41659144; Email: complianceofficer@ptcfinancial.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 156,700,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF PTC INDIA FINANCIAL SERVICES LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 28* PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS.18 PER EQUITY SHARE) AGGREGATING RS. 4,387.60 MILLION** (THE "ISSUE") CONSISTING OF A FRESH ISSUE OF 127,500,000 EQUITY SHARES BY THE COMPANY ("FRESH ISSUE") AND AN OFFER FOR SALE OF 29,200,000 EQUITY SHARES BY MACQUARIE INDIA HOLDINGS LIMITED (THE "SELLING SHAREHOLDER") ("OFFER FOR SALE"). THE ISSUE CONSTITUTES 27.88% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

THE FACE VALUE OF THE EQUITY SHARE IS RS. 10 EACH AND THE ISSUE PRICE IS 2.8 TIMES THE FACE VALUE.

"Discount of RS.1 to the Issue Price is offered to Retail Individual Bidders ("Retail Discount"). **Based on actual Allotment

Bid/Issue opened on March 16, 2011 and closed on March 18, 2011 (except for Anchor Investors for whom the Bid/Issue was opened for a day, one day prior to the Bid/Issue opening date).

PROMOTER OF THE COMPANY: PTC INDIA LIMITED

In terms of Rule 19(2) (b) (i) of the Securities Contracts (Regulations) Rules, 1957 ("SCRR"), as amended, this is an issue for at least 25% of the post-Issue capital. The Issue is through 100% Book Building Process wherein up to 50% of the Issue has been allocated to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"). 5% of the QIB Portion (excluding the "Anchor Investor Portion") has been allocated on a proportionate basis to Mutual Funds only. The remainder of the QIB Portion was made available for allocation on a proportionate basis to QIBs including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. Further, not less than 15% of the Issue has been allocated on a proportionate basis to Non-Institutional Bidders and not less than, 35% of the Issue has been allocated on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. The Company and the Selling Shareholder allocated up to 30% of the QIB Portion, to Anchor Investors, on a discretionary basis (the "Anchor Investor Portion") out of which one-third was reserved for domestic Mutual Funds. Bidders (except Anchor Investors) were allowed to participate in this Issue through an Application Supported by Blocked Amount (" ASBA") process providing details about the bank account which were blocked by the Self Certified Syndicate Banks ("SCSBs") for the same. For details see the section titled "Issue Procedure" on page 283 of the Prospectus.
The Issue received 31,630 applications for 236,432,250.equity shares resulting in 1.51 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional Investors, Retail Individual Investors and Anchors are as under: (Before technical rejections)

Sl. No. Category No. of Applications No. of Shares Amount %
1 Retail Individual Bidders 31,566 54,064,000 1,515,211,100 98.58
2 Non Institutional Bidders 43 2,342,500 65,561,000 9.97
3 Qualified Institutional Bidders 18 156,520,750 4,382,581,000 285.39
4 Anchors 3 23,505,000 658,140,000 100.00
Total 31,630 236,432,250 6,621,493,100 150.88

Final Demand
A summary of the final demand as per the BSE and the NSE as on the Bid/ Issue Closing Date at different bids is as detailed hereunder:

Bid Price No. of Shares % to total Cumulative Total Cumulative % of Total
26 719,750 0.32 53,692,900 19.14
27 538,750 0.24 54,231,650 19.33
28 173,915,500 76.42 228,147,150 81.32
Cutoff price 52,402,750 23.03 280,549,900 100.00
227,576,750 100.00

The Basis of Allocation (except for Anchor Investor) was finalized in consultation with the Designated Stock Exchange, being the National Stock Exchange of India Limited ("NSE") on March 25,2011.

A. Allocation to Retail Individual Investors (Including Applications Supported by Blocked Amount ("ASBA") (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 28/- per Equity Share (including a discount of Rs.1 /- on the issue price), was finalized in consultation with NSE. This category has been subscribed to the extent of .96 times (after rejections). There were 12,878 applications for 23,117,250 equity shares made under ASBA process. Of these, 12,454 applications for 22,307,750 equity shares were found valid and they were considered for allotment. The total number of shares allotted in Retail Individual Investor category is 52,808,500 Equity Shares which were allotted to 30728 successful applicants. Full and firm allotment was made to all valid applicants in this category.

B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 28/- per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 0.09 times and hence allotment was done on full and firm basis to all valid applicants. There were 11 applications for 1,508,250 equity shares made under ASBA process. Of these, 9 applications for 1,493,250 equity shares were found valid and they were considered for allotment. The total number of shares allotted in Non Institutional Investor category is 2,327,500 equity Shares which were allotted to 41 successful applicants. Full and firm allotment was made to all valid applicants in this category.

C. Allocation to QIBs
The Basis of Allocation to the Qualified Institutional Bidders, who have bid at the Issue price of Rs. 28/- per Equity Share was finalized in consultation with NSE. The category has been subscribed to the extent of 2.85 times and hence allotment was done on proportionate basis. There were 16 applications for 153,454,750 equity shares made under ASBA process which, were found valid and they were considered for allotment. The total number of shares allotted in Qualified Institutional Investors category is 78,059,000 Equity Shares which were allotted to 18 successful applicants.

Category Fls/Banks Flls MFs ICs PF Others Total
No. of Equity Shares allotted 38,767,162 17,858,299 7,550,945 13,882,594 - - 78,059,000

D. Anchor Investors
The Company allocated 23,505,000 Equity Shares to 3 Anchor Investors in consultation with the Book Running Lead Managers and Co-Book Running Lead Manager. This represents 23.14% of the QIB Portion (including spill over).

The IPO Committee of the Board of Directors of the Company at its Meeting held at Hyderabad on March 26,2011 has taken On record the basis of allocation of Equity Shares of the Issue and has accordingly allotted the Equity Shares to the Bidders.
The CAN-cum-Refund Orders and allotment advice and/ or notices have been dispatched to the address of the Bidders as registered with the depositories on 28.03.2011. In case the same is not received within 10 days, investors may contact the Registrar to the Issue at the address given below. The instructions to Self Certified Syndicate Banks have been dispatched on or prior to March 26,2011. The Refund Orders have been over-printed with the bank account details as registered, if any, with the depositories. The Equity Shares allocated to successful applicants are being credited to their beneficiary accounts by March 29,2011 subject to validation of the account details with the depositories concerned. The shares of the company are expected to be listed on Bombay Stock Exchange Limited and National Stock Exchange of India Limited on March 30,2011.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrar to the Issue, Karvy Computershare Private Limited at http://karisma.karvy.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicant, serial number of the Bid-cum-Application Form, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

Karvy Computershare Private Limited
Unit: PTC India Financial Services Limited
Plot No. 17 to 24, Vithalrao Nagar, Hitech City Road, Madhapur
Hyderabad - 500081, Fax: 040-23420814
Email: einward.ris@Karvy.com

TOLL FREE - HELPLINE NUMBER
1-800-3454001

Date : March 29, 2011 For PTC India Financial Services Limited
Sd/-
Vishal Goyal
Company Secretary

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS Of PTC INDIA FINANCIAL SERVICES LIMITED.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus. "The Company proposes, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a Prospectus with the Registrar of Companies, the Securities and Exchange Board of India ("SEBI") and the relevant stock exchange(s). The Prospectus is available on the website of SEBI at www.sebi.gov.in as well as on the websites of the Book Running Lead Managers at www.sbicaps.com, www.jmfinancial.in, www.icicisecurities.com, www.almondzglobal.com and the Co Book Running Lead Manager at www.avendus.com. Investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the section titled "Risk Factors" of the Prospectus. This document is not an offer of securities for sale in the United States or elsewhere. The shares of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act") or any state securities laws in the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws".

Forecasts for PTC India Financial Services Limited

Please Note: Forecast or Predictions changes time to time according to market conditions. Do your homework before applying, Do not subscribe to any IPO's on the basis of grey market price or IPO Forecast. This is an informational tool for retail investors.

Type Forecast
SubscriptionNA
AllotmentNA
Listing» It may list around Rs. 30.
» It can go into discount after listing.
» PFS is good for long term.




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