{"id":360999,"date":"2020-07-03T11:54:51","date_gmt":"2020-07-03T06:24:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=360999"},"modified":"2020-07-03T11:54:51","modified_gmt":"2020-07-03T06:24:51","slug":"tatas-to-put-rs-2-6k-cr-into-tata-power","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/tatas-to-put-rs-2-6k-cr-into-tata-power\/","title":{"rendered":"Tatas to put Rs 2.6k cr into Tata Power"},"content":{"rendered":"<p>Mumbai: Tata Sons will infuse Rs 2,600 crore into Tata Power to strengthen the electricity generator\u2019s balance sheet. It will route the funds by subscribing to Tata Power\u2019s 49.05 crore equity shares at Rs 53 apiece.<br \/>\nAfter the subscription, the Tata Sons stake in Tata Power will increase by 10% to 45%. The fund infusion move by Tata Sons comes after Sebi eased pricing rules for preferential issues and allowed promoters to acquire up to 10% of a listed company through the preferential route without having to make an open offer. Sebi gave the temporary relaxation to enable entities to raise capital fast after businesses came under financial stress due to the Covid-19-triggered slowdown.<br \/>\nThe capital infusion into Tata Power \u2014 the largest by the Tata Group promoter into an operating company this fiscal \u2014 comes after six years when Tata Sons participated in the Rs 1,993-crore rights offer of the electricity producer. Tata Power will use the money to pare its Rs 44,000-crore debt and to execute its long-term growth strategy. At the consolidated promoter level, the Tata Group\u2019s stake in Tata Power will increase to 47% from 37%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai: Tata Sons will infuse Rs 2,600 crore into Tata Power to strengthen the electricity generator\u2019s balance sheet. It will route the funds by subscribing to Tata Power\u2019s 49.05 crore equity shares at Rs 53 apiece. After the subscription, the Tata Sons stake in Tata Power will increase by 10% to 45%. The fund infusion move by Tata Sons comes after Sebi eased pricing rules for preferential issues and allowed promoters to acquire up to 10% of a listed company through the preferential route without having to make an open offer. Sebi gave the temporary relaxation to enable entities to [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,246,137],"tags":[],"class_list":["post-360999","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/360999","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=360999"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/360999\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=360999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=360999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=360999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}