PTC India to acquire IL&FS Energy Development Company, a group company of IL&FS. The company informed in its filing. The acquisition amount for an undisclosed value, on a slump sale basis.
On June 24, the board of PTC India approved a Letter of Intent (LoI) for acquisition of the energy consulting business of IL&FS Energy Development Company, the company informed the exchange.
The company stated, "The LoI was issued after following due process prescribed under the resolution framework approved by NCLT for IL&FS group entities."