PTC India invites expression of interest for financial services arm

Mumbai: State-run PTC India has invited preliminary bids for sale of arm PTC India Financial Services, the company informed the bourses.

The company had announced its plans to divest the financial services arm in August last year.

"Subsequent to delays on account of the ongoing Covid-19 pandemic, requisite internal approvals have been received to reinitiate the process of exploring opportunities for monetizing the company’s investment in PFS. In this behalf, it has been decided to undertake steps for inviting potential purchaser(s)/ investor(s) to submit their respective interest for the same," the company statement said.

The last day of submission of interest by a bidder is July 31.