Tata Power board to discuss fund raising options this week

Tags: News
Tata Power's board will deliberate on various fund raising options, including by way of preferential issue of shares to institutional investors, on February 27.

The country's largest private power is looking to expand its operations, including in foreign countries.

"... A meeting of the board of directors of the company has been convened on February 27, 2014 to consider various fund raising options," the company said in a regulatory filing today.

The options would include equity issuances by way of a rights issue, preferential issue, qualified institutions placement or any combination thereof, the filing noted.

The board meeting also comes at a time when 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.

Following the CERC order, released on Saturday, shares of the company surged five per cent to close at Rs 82.65 on the BSE.

Tata Power has an operational capacity of more than 8,560 MW while projects having capacity of over 840 MW are under execution.

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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • E-auction and eventual privatisation of coal industry are welcome steps

    The government’s decision to privatise the scam-ridden coal industry through a presidential ordinance will eventually end the monopoly of public sec

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Rajgopal Nidamboor

Synchronous balance is vital for one and all

Imagine that you are playing an electronic game, or actually ...

Shona Adhikari

When women to birds become a painter’s muses

This week the focus is on renowned artist Amitabha Banerjee, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture