Tata Power Renewable Energy Ltd raises Rs. 2000 crores

The Board of Directors of Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited, has today approved the allotment of 20,00,00,000 Compulsorily Convertible Preference Shares at face value of ₹ 100 each at par aggregating to ₹ 2,000 crore on a preferential basis to GreenForest New Energies Bidco Limited (GreenForest), a Company incorporated under the laws of England and Wales.

With this, both the tranches of investment of ₹ 2,000 crore each in TPREL made by GreenForest are completed in accordance with the terms of the agreements.

Shares of Tata Power Company Limited was last trading in BSE at Rs. 202.50 as compared to the previous close of Rs. 199.80. The total number of shares traded during the day was 1464854 in over 17246 trades.

The stock hit an intraday high of Rs. 203.00 and intraday low of 199.60. The net turnover during the day was Rs. 294851114.00.

Source : Equity Bulls

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