PFS divests stake in MEPL
PTC India Financial Services Limited (PFS), a leading infrastructure finance company focused on lending across the energy value chain, announced that it has divested its entire stake of 16.76 per cent in Meenakshi Energy Pvt. Ltd.(MEPL) for an amount of Rs 209.73 crore. 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.
Commenting on the transaction, Mr R M Malla – MD and CEO, PFS said: “We are delighted to announce that we have successfully exited from one of our equity investments - Meenakshi Energy Private Ltd. We planned this exit keeping in view, the right opportunity and a robust return which will augment company’s networth. It has been our constant endeavor to leverage our expertise through continuous evaluation of projects and entity at the right stage in order to deliver maximum value to the shareholders. We remain confident of maintaining the pace of growth of our business.”