Mumbai, July 22: Tata Power has raised USD 335 million via global depositary receipts (GDR), reports CNBC-TV18.
The issue was priced at Rs 1,090 per share. The company had planned to raise USD 400 million. The equity dilution caused by this GDR is nearly 7%.
Tata Power was looking to raise money to close an equity funding gap of nearly Rs 2,500 crore from FY10 to FY12 caused by some projects that the company had undertaken; namely Mundra UMPP and one other project.
–Agencies