PTC India Financial Services (PFS), an infrastructure finance company, said Friday the company has successfully divested its entire stake in Ind-Barath Energy (Utkal) for a amount of Rs 3.11 billion. Ind-Barath is setting up a 700 MW coal based thermal power project in Orissa and PFS had invested a sum of Rs 1.05 billion in the same.

Ashok Haldia, MD and CEO, PFS said, ''We are delighted to announce that we have successfully exited from one of our equity investments, Ind-Barath Energy (Utkal). The exit made with a robust return on our investment, will strengthen the balance sheet, augment the company's net worth, and the opportunity for increased lending to upcoming power projects. It has been our constant endeavour to leverage our expertise in order to deliver maximum value to the shareholders.''

Shares of the company gained Rs 1.85, or 4.52%, to settle at Rs 42.75. The total volume of shares traded was 620,214 at the BSE (Friday).