Tata Power’s one of promoters - Tata Sons, has revoked over 2.16 crore pledged shares of the company. Tata Sons now has 52,05,000 pledged shares, accounting for 2.19% of the total outstanding shares of Tata Power.
Tata Power in a regulatory filing, said that Tata Sons had revoked 2,16,55,000 shares of the firm that were pledged. The transaction happened on July 18. Tata Sons owns more than 7 crore shares of Tata Power. At the end of June, Tata Sons had 29.81% stake in the power utility.
Recently, Tata Power had inked a pact with Maharashtra government for Rehabilitation & Resettlement (R&R) package. The R&R package was related to the utility proposed 1,600 MW thermal power plant in Raigad. The supercritical thermal power plant, based on imported coal, is coming up at Dehrand and Shahapur villages in Raigad district of Maharashtra.
Among others, Tata Power as part of the package would provide one time compensation of Rs 5 lakh per acre to each Project Affected Family (PAF) in lieu of 12.5% developed land. The company would also shell out Rs 2 crore per village Dehrand and Shahapur for basic infrastructure and civic amenities.
Company Name | CMP |
---|---|
NTPC | 368.40 |
Tata Power | 448.60 |
Power Grid Corp | 321.80 |
Adani Power | 746.90 |
Torrent Power | 1600.00 |
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