Tata Power to raise Rs 2,600 crore from Tata Sons to de-leverage its balance sheet
Tata Sons will infuse Rs 2,600 crore into Tata Power to help the power generator de-leverage its balance sheet. The board of Tata Power on Thursday approved a preferential issue at Rs 53 per equity share, 15% higher than Wednesday’s closing price, which will increase the promoter’s shareholding by around 10 percentage points to 45.21%
The board also approved, in-principle, an infrastructure investment trust (InvIT) from the company’s renewable energy portfolio. Tata Power shares closed at Rs 49.85 on the BSE, on Thursday, up 8.4% from a day ago.
