PFS di­vests stake in MEPL

Power Watch India - - DISPATCHES FINANCE -

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.”

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