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Tata Power Co.Ltd. - Announcement under Regulation 30 (LODR)-Press Release / Media Release

| Updated on November 14, 2018 Published on November 14, 2018

Renascent Power Ventures Private Limited (Renascent Power), a wholly owned subsidiary of Resurgent Power Ventures Pte Limited (Resurgent Power), has signed a Share Purchase Agreement (SPA) on 13th November 2018 with a consortium of lenders led by State Bank of India to acquire 75.01% equity stake and 27,00,00,000 Preference shares of ? 10/- each in Prayagraj Power Generation Company Limited (PPGCL).

Resurgent Power is a joint venture between Tata Power International Pte. Ltd (TPIPL) (a wholly owned subsidiary of Tata Power), ICICI Bank Ltd. (ICICI Bank) and other reputed global investors, set up to acquire assets in the Indian Power Sector. TPIPL owns 26% stake in Resurgent Power and the balance 74% is held by ICICI Bank and other global investors.

Pdf Link: Tata Power Co.Ltd. - Announcement under Regulation 30 (LODR)-Press Release / Media Release

Source : BSE - www.bseindia.com

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Published on November 14, 2018
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