Tata Power to raise about Rs 2,000 cr through rights issue

Tata Power, which is looking to expand its operations, will raise up to Rs 2,000 crore through a rights issue of shares.

The power utility's board of directors, during their meeting yesterday, approved the fund raising proposal.

The approval is for "raising funds up to Rs 2,000 crore by way of a rights issue of equity shares of face value of Rs 1 each", subject to all applicable statutory and regulatory approvals.

In a filing to the BSE today, Tata Power said a committee of the board would decide on the terms and conditions of the rights issue including issue price, issue size and other related matters.

Tata Power has an operational capacity of more than 8,560 MW while projects having capacity of over 840 MW are under execution. Besides many projects are being looked at by the company.

Last week, the Central Electricity Regulatory Commission (CERC) has allowed the company compensation as well as higher tariff for electricity generated from its 4,000 MW Mundra power project in Gujarat.

The plant has been seeing significant losses due to rise in cost of imported Indonesian coal, which is used to fire it.

The company reported a consolidated net loss of Rs 74.91 crore in the three months ended December 2013. During the same period, the company's total income from operations touched Rs 8,700.02 crore.


  • Long-term health cover makes good sense for both the insurer and the insured

    Long-term health insurance products make enormous sense.


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Urs Schoettli

America lacks will to contain China

Recently both the Chinese leader Xi Jinping and Indian prime ...

Zehra Naqvi

Exercise gets creative juices flowing

Ever known that feeling of being sluggish and drowsy, of ...

Bubbles Sabharwal

You are what you believe yourself to be

The Gita says a man is what his shraddha is. ...


William D. Green

Chairman & CEO, Accenture