Category Archives: Financial Serives

PTC India Financial Services IPO – Opens Today

PTC India Financial Services, a unit of PTC India,Went into IPO market and it has launched its initial public offer (IPO)today and will close it on March 18.The IPO price has been fixed at a price band at Rs 26-28 a share for its initial public offering (IPO) to be offered through 100 per cent book-building.They are planning to raise Rs 438 crore through the issue at higher end of price band. The company has decided to offer discount of Re 1 to the issue price to retail individual bidders, PFC Financial Services Chairman T N Thakur told reporters here.

PTC India

PTC India Ltd. (PTC), the leading provider of power trading solutions in India, is a Government of India initiated Public-Private Partnership, whose primary focus is to develop a commercially vibrant power market in the country.PTC is the pioneer in developing and implementing the concept of power trading in India and has successfully demonstrated its efficacy in optimally utilizing the existing infrastructure within the country to the benefit of all.
PTC India Financial Services Ltd (PFS) is promoted by PTC India Ltd (PTC) as a special purpose investment vehicle to provide total financial services to the entities in energy value chain, which inter-alia includes investing in equity and/or extending debt to power projects in generation, transmission, distribution; fuel sources, 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 green field and brown field projects at various stages of growth and development.

ABOUT PTC India Financial Services IPO

Symbol – Series PTFS EQ
Issue Period Mar 16, 2011 to Mar 18, 2011
Issue Size Public issue of 156,700,000 Equity Shares Of Rs 10/- Each.(including Anchor Portion of 23,505,000 equity shares)
Price Range Rs.26 to Rs.28
Market Lot 250 Equity Shares
Minimum Order Quantity 250 Equity Shares
Maximum Subscription Amount for Retail Investor Rs.200000

LIC Housing Finance Racket and SCAM – CBI Arrests LIC Housing Finance CEO

Central Bureau of Investigation (CBI) arrested LIC Housing Finance CEO Ramachandran Nair and seven others senior bankers in connection with a housing finance racket the remaining arrested are Naresh K Chopra, Secretary (Investment), LIC, R N Tayal, eneral Manager of Bank of India (Delhi), Maninder Singh Johar, Director (Chartered Accountant) of Central Bank of India , Venkoba Gujjal and Dy General Manager of Punjab National Bank (Delhi). and also Rajesh Sharma, CMD of Mumbai-based firm Money Matters Ltd and two of its employees — Suresh Gattani and Sanjay Sharma.
The case was

The bank officials allegedly colluded with the firm to sanction large scale corporate loans, overriding mandatory conditions for such approvals along with other irregularities.

LIC Housing Finance Press Release Clarification.

Shriram Transport Finance soars by 4.99 Percent

SHRIRAM TRANSPORT FINANCE which opened at 732 or so on Friday and had a low of 725 or was hovering at that rate until 2.00 or so in the noon and there was a sudden spurt in volume and the stock closed at 769.20 up by almost 4.99 percent or 36.55 Rs.

The only news that came out is that “Shriram Transport Finance, small and medium commercial vehicles financer, is increasing fixed interest-rate loans and reducing the exposure to floating-rate loans as it sees interest rates moving up.”

L&T Insurance – Larsen and Toubro Insurance Soon to come

Larsen and Toubro informed the market that the company has received R1 approval for its general insurance venture from IRDA , which means they have to have 2 more approvals R2 and R3 which is the time where the IRDA monitors the Business model and Formation of the company , we can see the company opening its business anywhere from 3 to 6 Months.May be Larsen and Toburo might think of LNT Inurance IPO if it needs to tap more money for running the business.