Indian power utility Tata Power Company Ltd. plans to issue more than 20 million shares and warrants, amounting nearly 10 per cent of its equity, on a preferential basis to its largest shareholder, Tata Sons Ltd.
The issue price of the shares and warrants would be set later, the company said in a statement to the stock exchange late on Tuesday. Shareholders would have to approve the issue plan.Tata Sons, the holding firm of the Tata Group, holds 28.74 per cent in Tata Power as of March 31, stock exchange data showed.
Tata Power's shares closed at Rs 610.65 on Tuesday.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment