FCC

Tata Power gets shareholders? nod to raise Rs 55 billion

2018-08-24

Through a special resolution that was passed by the requisite majority at the annual general meeting, Tata Power has sought shareholders? approval to raise up to Rs 55 billion through issuance of non-convertible debentures on private placement basis. From the date of passing this resolution, Tata Power will borrow Rs 55 billion. In the next 12 months, the bonds or the loans will be repayable, including the loans taken for acquisition of Walwhan Renewable Energy. As on March 31, 2018, the long-term borrowings of the company was Rs 123 billion.