Also approves in-principle to set up InvIT for its renewables business
The Board of Tata Power Company at its meeting held on 02 July 2020 has approved the following -Issuance of up to 49,05,66,037 Equity shares of face value of Rs 1/- each to Tata Sons, the Promoter of the Company, on a preferential basis at an issue price of Rs 53 per Equity Share aggregating to Rs 2,600 crore.
In-principle approval for setting up of an Infrastructure Investment Trust (InvIT) for the Company's renewables business on terms and conditions to be discussed with potential investors in the InvIT.
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