PFS divests entire stake in IEX for Rs 132.54 crore

PTC India Financial Services (PFS) today said it has divested its entire stake in India Energy Exchange for Rs 132.54 crore.

In a BSE filing, PFS said, "it has divested its entire stake in India Energy Exchange (IEX) for an amount of Rs 132.54 crore".

The company said prior to the stake sale, its investment in IEX stood at Rs 1.52 crore.

"The exit is made at a substantial return on our investment and will strengthen the balance sheet, augment the company's net worth and provide headroom for increased lending in infrastructure sector," PFS MD & CEO Ashok Haldia said.

IEX provides power trading platform for electricity trade in India.

Shares of the company were trading 2.97 per cent higher at 41.55 on BSE.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)