BQ Prime
The company’s board approved the offer, which is subject to adjustments in bid value in keeping with the bid format, according to an exchange filing on Thursday.
The transaction is subject to the fulfillment of conditions precedent, other terms as well as conditions and approvals under applicable laws, the filing said.
PTC India will now seek shareholders’ approval for the sale of its wholly-owned subsidiary.
PTC Energy was formed in August 2008 to develop asset base, taking into its sphere the business of generation, supply, distribution, transmission as well as dealing in all forms of energy, including import and export of coal, conversion of coal/fuels into electricity, fuel linkages and provide advisory services in energy sector and energy efficiency.
