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PFS Sells Its Stake In Indian Energy Exchange

PFS continues to maintain a strong focus on growing its loan book and quality thereof, supported by increased focus on renewable energy and diversification in infrastructure space

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PTC India Financial Services (PFS), infrastructure finance firm, announced that it has divested its entire stake in Indian Energy Exchange Limited (IEX) for Rs 132.54 crore.

Dr Ashok Haldia - MD & CEO, PFS said: “The exit is made at a substantial return on our investment and will strengthen the balance sheet, augment the company’s networth, and provide the headroom for increased lending in the infrastructure sector. It has been our constant endeavor to leverage our expertise in order to deliver maximum value to the shareholders.”

Prior to the sale, PFS’ investment in IEX stood at Rs 1.52 crore. IEX provides power trading platform for electricity trade in India.

PFS continues to maintain a strong focus on growing its loan book and quality thereof, supported by increased focus on renewable energy and diversification in infrastructure space.

The current divestment of equity investment will provide headroom for growth and the Company shall leverage the same to scale up its lending activity and achieve sustained growth.