Tata Power Renewable Energy Ltd raises Rs. 2000 crore from GreenForest New Energies Bidco Ltd

The Board of Directors of Tata Power Renewable Energy Limited, a wholly owned subsidiary of The Tata Power Company Limited, has today approved the allotment of 8,36,05,049 Equity shares of Tata Power Renewable Energy Limited of the face value of ₹ 10 each at a price of ₹ 239.22 per Equity share (including premium of ₹ 229.22) aggregating to ₹ 1999,99,99,822 on a preferential basis to GreenForest New Energies Bidco Limited, a Company incorporated under the laws of England and Wales. This completes Tranche 1 of the transaction. Tranche 2 infusion of ₹ 2,000 crore will be concluded in accordance with the terms of the agreements.

Shares of Tata Power Company Limited was last trading in BSE at Rs. 237.20 as compared to the previous close of Rs. 236.00. The total number of shares traded during the day was 2717855 in over 34844 trades.

The stock hit an intraday high of Rs. 241.70 and intraday low of 236.55. The net turnover during the day was Rs. 649922211.00.

Source : Equity Bulls

Keywords

TataPowerCompany INE245A01021 TataPowerRenewableEnergy PreferentialAllotment GreenForestNewEnergiesBidco