May 26 (Bloomberg) -- PTC India Financial Services Ltd., a company backed by Goldman Sachs Group Inc. and Macquarie Group Ltd., is planning a share sale to tap growing investor interest in the South Asian nation’s power projects, the chairman said.
PFS, which invests in electricity generation plants and assets, needs to raise as much as 10 billion rupees ($211 million) and may make an initial public offering by end September, said Tantra Narayan Thakur, who is also chairman of parent company PTC India Ltd.
“Today is the best time to invest in the Indian power market,” Thakur said in an interview in New Delhi. “More and more people want electricity.”
India plans to double its installed electricity capacity in the next seven years to meet energy demand and reduce blackouts in the world’s second-fastest growing major economy. The federal government has raised at least 102 billion rupees from selling shares in three state-owned power-related companies since January.
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