PTC India Financial Services IPO low on subscription on Day 1 - Indian IPO Blog

Wednesday, March 16, 2011

PTC India Financial Services IPO low on subscription on Day 1

The opening day of the IPO of the financial arm of PTC India, the PTC India Financial Services Ltd., saw a dull response to the IPO, with the subscription figure remaining negligible at 2% on an overall basis

PTC India Financial Services Ltd (PFS) is a subsidiary of and promoted by PTC India Limited. PFS is an Indian non-banking financial institution that provides equity and debt financing, including short-term and long-term debt, as well as structured debt financing. PTC India holds 77.6% stake in PTC India Financial Services, while Macquarie India Holdings Ltd and Goldman Sachs hold 11.2% each in the company

The IPO has not managed to receive any subscription from the QIB Category on the opening day and bids for 2487250 Equity Shares in the Retail Category as against 54845000 Equity Shares reserved in the category, thus making the category subscribed by about 4.5%. The subscription in the HNI Category is negligible at 0.0015 times

Click here for category-wise subscription status for PFS IPO on the opening day

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