PTC India has received shareholders’ approval for selling 100 per cent equity stake in its arm PTC Energy to Oil and Natural Gas Corporation (ONGC) for an enterprise value of Rs 2,021 crore. The enterprise value of PTC Energy includes Rs 925 crore bid of ONGC as well as over Rs 1,100 crore debt component which will be transferred to the oil company after the transaction is complete. The divestment of PTC Energy is part of the strategy to exit the non-core business.
PTC India is principally engaged in trading of power. PTC holds Category I license from Central Electricity Regulatory Commission (CERC), the highest category with permission to trade unlimited volumes.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
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