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Tata Power rights issue oversubscribed two times

Posted on Apr 21 2014 | IANS

Mumbai, April 21 : Tata Power's rights issue has been oversubscribed by nearly two times, the company said Monday.

The issue, which closed April 15, "has been oversubscribed by 1.96 times, wherein Tata Power collected an amount of Rs.3,916.41 crore on application", the company said in a statement.

The company had offered up to 33,22,30,130 equity shares of face value of Re.1 each at a price of Rs.60 per equity share for an amount aggregating to Rs.1,993.38 crore on a rights basis to existing shareholders.

Tata Power, together with its subsidiaries and jointly controlled entities, has an installed gross generation capacity in India of approximately 8,560 MW.

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