PTC India Financial Services (PFS), a leading Infrastructure Finance Company focused on lending across the energy value chain, has divested its entire stake of 16.76% in Meenakshi Energy (MEPL) for an amount of Rs 209.73 crore. The proceeds out of the divestment will be used to strengthen balance sheet and augment loan book growth.
MEPL is setting up a 1000 MW coal based thermal power project in Andhra Pradesh, of which phase I of 300 MW is commissioned.
PFS continues to maintain a strong focus on growing its loan book, backed by emphasis on renewable energy and diversification across the energy value chain. The company maintains a diversified borrowing mix and is adequately funded to scale up its lending activity and achieve sustained growth. The current equity investment exit will further aid headroom for growth.
