Tata Power Company’s subsidiary Coastal Gujarat Power has refinanced its term loan of Rs 3,864 crore. This will reduce the interest burden by Rs 77 crore a year. The refinancing scheme will help in extending the tenure of the rupee facility and assist in reducing the cost.
The refinancing has been done under the RBI circular (August 7, 2014), which has asked banks that a minimum 25 per cent of the outstanding loan should be taken over by a new set of lenders from the existing financing banks and financial institutions. Axis Bank has joined as a new member of the rupee lenders’ consortium of banks.
Tata Power is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of 8,669 MW and a presence in all the segments of the power sector.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
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