{"id":361840,"date":"2020-07-08T11:26:56","date_gmt":"2020-07-08T05:56:56","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=361840"},"modified":"2020-07-08T11:26:56","modified_gmt":"2020-07-08T05:56:56","slug":"tata-power-to-tidy-up-the-balance-sheet-chalks-plans-to-reduce-debt","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/tata-power-to-tidy-up-the-balance-sheet-chalks-plans-to-reduce-debt\/","title":{"rendered":"Tata Power to tidy up the balance sheet; chalks plans to reduce debt"},"content":{"rendered":"<p>Tata PowerNSE 3.05 % has been taking steps that may reduce its debt significantly thereby offering some comfort to investors in tough times. The board has announced preferential issue and proposed InVIT of its renewable business. These steps have gone down well with the investors; the stock has gained 15% in the past one week.<\/p>\n<p>The board has approved issuance of 49 crore shares to Tata Sons at Rs 53, 4% higher than the Tuesday\u2019s closing price of Rs 50.9, aggregating Rs 2,600 crore. Though this will lead to 18% equity dilution, it will not affect earnings per share since the company will save on interest expenses. A major chunk of the proceeds will be used to reduce debt by nearly 6% from Rs 44,000 crore in FY20. Savings on interest<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tata PowerNSE 3.05 % has been taking steps that may reduce its debt significantly thereby offering some comfort to investors in tough times. The board has announced preferential issue and proposed InVIT of its renewable business. These steps have gone down well with the investors; the stock has gained 15% in the past one week. The board has approved issuance of 49 crore shares to Tata Sons at Rs 53, 4% higher than the Tuesday\u2019s closing price of Rs 50.9, aggregating Rs 2,600 crore. Though this will lead to 18% equity dilution, it will not affect earnings per share since [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,239,136],"tags":[],"class_list":["post-361840","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/361840","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=361840"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/361840\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=361840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=361840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=361840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}