The PTC India Ltd. (PTC), the leading provider of power trading solutions in India, has successfully raised Rs 499.99 crore by issuing shares to qualified institutional buyers.

The company stated in a release that it has raised Rs 499.99 crore by issuing over 6.66 crore equity shares through qualified institutional placement (QIP).

Sources reported that PTC intends to invest the funds raised in the energy related sector.

In addition, PTC may also invest in interest or dividend bearing liquid instruments including money market, mutual funds and term deposits with banks or financial institutions.

The scrip of PTC India touched an intraday high of Rs 93 and an intraday low of Rs 89. At 12:06 pm, the share was quoting at Rs 89.50, marginally down compared to previous close.