Tata Power Renewable raises Rs 2,000 cr from Blackrock-backed firm – tata power renewable raises Rs 2000 cr from Blackrock-backed firm

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, Updated: Aug 18, 2022, 4:32 PM

New Delhi, Aug 18 (PTI) Tata Power Renewable Energy, a unit of Tata Power, has raised nearly Rs 2,000 crore by issuing 8.36 crore shares to BlackRock-backed Greenforest New Energies BIDCO. The company gave this information on Thursday. Earlier this year, the BlackRock Real Assets-led consortium, including Mubadala Investment Company, entered into a firm agreement with Tata Power. Under this agreement, an investment of Rs 4,000 crore was to be made for a 10.53 percent stake in Tata Power Renewable Energy. Tata Power said, “Tata Power, a wholly owned subsidiary of the company

New Delhi, Aug 18 (PTI) Tata Power Renewable Energy, a unit of Tata Power, has raised nearly Rs 2,000 crore by issuing 8.36 crore shares to BlackRock-backed Greenforest New Energies BIDCO. The company gave this information on Thursday.

Earlier this year, the BlackRock Real Assets-led consortium, including Mubadala Investment Company, entered into a firm agreement with Tata Power. Under this agreement, an investment of Rs 4,000 crore was to be made for a 10.53 percent stake in Tata Power Renewable Energy.

“The Board of Directors of Tata Power Renewable Energy Limited, a wholly owned subsidiary of the Company, today approved the allotment of 8,36,05,049 equity shares of face value of Rs 10 to Tata Power Renewable Energy Limited,” Tata Power said. ‘

This allotment has been done at a price of Rs 239.22 per share.

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