Power trading solutions provider PTC India on Thursday received shareholders approval for selling 100 per cent equity stake in its arm PTC Energy to state-owned ONGC Ltd for an enterprise value of Rs 2,021 crore.
As much as 93.61 per cent of votes were in favour of the special resolution to approve the proposal for 100 per cent disinvestment (by way of sale, transfer or otherwise) in its wholly-owned subsidiary PTC Energy Ltd, at an extraordinary general meeting held on Thursday, a regulatory filing said.
In October, PTC India announced that the upstream firm ONGC had emerged as the successful bidder for acquiring 100 per cent stake in PTC Energy for an enterprise value of Rs 2,021 crore.
