Space industry

PTC Industries files ₹1,800-crore institutional share allotment

The October 9 filing records 854,700 shares at ₹21,060 each. A next-day correction fixes the amount in words; the documents do not earmark all proceeds for space.

13 October 2026 at 9:37 am ISTBy Industry Desk2 min read

Report a correction

Add us as a preferred source on Google

AI illustration: Generic metal ingots and machined forms in a conceptual financing composition. It does not depict PTC products, its facilities or the use of this placement’s proceeds.

PTC Industries approved an equity allotment worth about ₹1,800 crore on October 9, according to its filing to the Indian stock exchanges. The Lucknow manufacturer allotted 854,700 shares at ₹21,060 each through a qualified institutional placement, an equity issue to eligible institutional buyers. The filing records an aggregate issue amount of ₹17,999,982,000.

A corrigendum dated October 10 corrected the amount written in words in the original filing. The numerical total, number of shares and issue price were unchanged. The corrected amount is ₹1,799.9982 crore; the original wording had incorrectly described the crore component as seventeen thousand nine hundred ninety-nine rather than one thousand seven hundred ninety-nine.

The placement opened on October 6 and closed on October 9, the allotment filing records. It priced the shares at a 4.92% discount to the floor price. Following the allotment, the company reported 15,847,249 equity shares outstanding, compared with 14,992,549 beforehand.

The filing’s allottee annexure lists Smallcap World Fund with 164,230 shares, or 19.21% of the issue. Fidelity Blue Chip Growth Fund received 98,900 shares, or 11.57%. It also lists three other Fidelity funds and HDFC Defence Fund and HDFC Manufacturing Fund. These are disclosed allottees in the placement; the annexure is not a statement that all investors in the issue are listed.

PTC’s space connection is documented separately from this financing. In a January 7 press release, the company reported an order from ISRO’s Vikram Sarabhai Space Centre to convert 40 tonnes of titanium sponge into titanium-alloy ingots using double vacuum arc remelting. The announcement concerns a materials order, rather than a launch or a completed delivery.

The allotment outcome and corrigendum reviewed for this report do not specify how much of the placement will be used for space work. They document an equity issue by a manufacturer with reported Indian space-materials activity. PTC said it would submit its shareholding pattern before and after the issue with the listing application.

Reporting trail