{"id":360901,"date":"2020-07-03T10:12:15","date_gmt":"2020-07-03T04:42:15","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=360901"},"modified":"2020-07-03T10:22:35","modified_gmt":"2020-07-03T04:52:35","slug":"tata-power-to-raise-rs-2600-crore-from-tata-sons-via-preferential-issue","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/tata-power-to-raise-rs-2600-crore-from-tata-sons-via-preferential-issue\/","title":{"rendered":"Tata Power to raise Rs 2,600 crore from Tata Sons via preferential issue"},"content":{"rendered":"<p>Private power producer Tata Power on Thursday said the company\u2019s board had approved an increase in its promoter Tata Sons\u2019 stake to 45.2 per cent for Rs 2,600 crore. <\/p>\n<p>Tata Power\u2019s board also approved setting up an infrastructure investment trust (InvIT) for its renewable business on Thursday. The move, the company said, is part of a strategic turnaround plan. <\/p>\n<p>The company in its statement said Tata Power would raise Rs 2,600 crore through a preferential issue to Tata Sons at a price of Rs 53 per equity share. The issue price for the equity shares has been fixed, representing 15 per cent premium to Wednesday\u2019s closing price. Pursuant to the equity issue, Tata Sons\u2019 shareholding will increase to 45.21 per cent, from 35.27 per cent. Consequently, Tata Group\u2019s shareholding will increase to 46.86 per cent, from 37.22 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Private power producer Tata Power on Thursday said the company\u2019s board had approved an increase in its promoter Tata Sons\u2019 stake to 45.2 per cent for Rs 2,600 crore. Tata Power\u2019s board also approved setting up an infrastructure investment trust (InvIT) for its renewable business on Thursday. The move, the company said, is part of a strategic turnaround plan. The company in its statement said Tata Power would raise Rs 2,600 crore through a preferential issue to Tata Sons at a price of Rs 53 per equity share. The issue price for the equity shares has been fixed, representing 15 [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-360901","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/360901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=360901"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/360901\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=360901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=360901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=360901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}