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PTC India Financial Services raises $23.5M from Dutch development bank FMO through NCDs

PTC India Financial Services Ltd (PFS) today said it has raised Rs 150 crore through issuance of non-convertible debentures.

"PFS has raised money through issuance of non-convertible debentures (NCDs)-series 5 by way of private placement of Rs 150 crore," the company said in a statement.

The debentures are redeemable over a period of seven years, it said.

"The issue has been fully subscribed by FMO, Dutch Development Bank. The NCDs shall augment the long term resources of the Company and will help in lowering the cost of funds of the company," it added.

PFS, a non-banking finance company, provides fee-based services viz loan syndication and underwriting etc.

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