Tata Power seeks shareholders’ nod to raise Rs 2,600 crore from Tata Sons
NEW DELHI: Tata Power will seek shareholders’ approval for a proposal to raise Rs 2,600 crore via issuance of preferential shares to its promoter Tata Sons in an annual general meeting (AGM) later this month.
The company has listed a special resolution for issuance of shares to Tata Sons on a preferential basis in the 101st AGM scheduled for July 30, stated a regulatory filing.
Earlier this month, Tata Power board approved a proposal to raise Rs 2,600 crore via issuance of preferential shares to Tata Sons.
