Tata Power will allot seven equity shares for every 50 shares held by an investor in the company under its Rs. 2,000 crore rights issue.The money will be utilised for funding expansion plans. The rights issue size is 33.22 crore equity shares with an issue price of Rs. 60 per share amounting to Rs. 1,993.38 crore.
"An eligible equity shareholder will be entitled to apply for 7 equity shares for every 50 equity shares held by eligible equity shareholder on the Record Date (March 20)," Tata Power said in a stock exchange filing.The board committee of Tata Power in its meeting on March 8 finalised this proposal.
"An eligible equity shareholder will be entitled to apply for 7 equity shares for every 50 equity shares held by eligible equity shareholder on the Record Date (March 20)," Tata Power said in a stock exchange filing.The board committee of Tata Power in its meeting on March 8 finalised this proposal.