PTC India together with PTC India Financial Services (PFS), Goldman Sachs and Macquarie India Holdings (Macquarie) on Dec. 28, 2007 entered into a share subscription agreement and shareholders agreement, pursuant to which Goldman Sachs and Macquarie agreed to subscribe through fresh issue of equity shares to 20% each of the aggregate issued share capital of PFS.
The completion of the transaction is subject to PTC, PFS, Goldman Sachs, and Macquarie obtaining all necessary approvals.
The FIPB granted the company to invite equity participation from Goldman Sachs and Macquarie for up to 40% of the paid up capital of PFS.
N M Rothschild & Sons (India) was the sole sell side advisor on the transaction and was responsible for conducting and managing an organized process of selection and induction of investors.
Shares of PTC India declined Rs 7.85, or 4.72%, to settle at Rs 158.55. The total volume of shares traded was 570,572 at the BSE. (Tuesday)
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