Tata Power Company’s wholly owned subsidiary -- Tata Power Renewable Energy has raised around Rs 2,000 crore by issuing 8.36 crore equity shares to GreenForest New Energies Bidco. The board of directors of Tata Power Renewable Energy has approved the allotment of 8,36,05,049 equity shares of the face value of Rs 10 each at a price of Rs 239.22 per equity share (including premium of Rs 229.22) aggregating to Rs 1999,99,99,822 on a preferential basis to GreenForest New Energies Bidco, a company incorporated under the laws of England and Wales.
This completes Tranche 1 of the transaction. Tranche 2 infusion of Rs 2,000 crore will be concluded in accordance with the terms of the agreements.
Tata Power Company is India’s largest integrated power company.
Company Name | CMP |
---|---|
NTPC | 358.30 |
Tata Power | 431.50 |
Power Grid Corp | 292.60 |
Adani Power | 592.40 |
Torrent Power | 1511.20 |
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