Shares of PTC India Financial Services settled at Rs 24.90 on BSE, a 11.07% discount to the initial public offer price of Rs 28. The stock debuted at Rs 28, at par with the initial public offer (IPO) price. The stock hit a high of Rs 28 and low of Rs 23.50. On BSE, 2.28 crore shares were traded on the counter.

The initial public offering (IPO) of PTC India Financial Services (PIFSL) was subscribed 1.7 times. The IPO received bids for 22.61 crore shares compared with 13.31 crore shares on offer.

The qualified institutional bidders (QIB) category was subscribed 2.85 times and the retail investors category was subscribed 1.18 times. The non-institutional segment, which includes corporates and high networth individuals was subscribed a meagre 0.22 times.

Retail investors were offered shares at Rs 27 each, a discount of Rs 1 to the IPO price.

The PIFSL IPO comprised a fresh issue of 12.75 crore equity shares and an offer for sale of 2.92 crore equity shares by Macquarie India Holdings.

PIFSL is a subsidiary of and promoted by PTC, which is the market leader for power trading solutions in India. PIFSL provides both equity and debt financing, including short-term and long-term debt, as well as structured debt financing to companies with projects across the energy value chain. PTC holds 60% stake in PIFSL post-issue.

PTC India Financial Services reported a net profit of Rs 31.22 crore on a total income of Rs 82.54 crore for nine months ended December 2010.