Tata Power Company arm raises $450 million

Bhira Investments Limited, a wholly owned subsidiary of Tata Power Company Limited has successfully priced a 60 year Non-callable for 5 years Reg S hybrid capital offering of USD 450 million guaranteed by Tata Power, at 8.5% p.a., payable semi-annually, on April 19, 2011 Deutsche Bank, Goldman Sachs and UBS are the appointed Joint Book runners for the issue.

The stock closed the day at Rs.1299.05, down by Rs.4 or 0.31%. The stock hit an intraday high of Rs.1307.90 and low of Rs.1278.75.

The total traded quantity was 0.17 lakhs compared to 2 week average of 0.29 lakhs.

Source : Equity Bulls

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