Tata Power board to mull raising funds on July 2

Mumbai

The board of directors of Tata Power will consider raising funds through equity shares, debt securities or other instruments on July 2 (Thursday), the company said in a regulatory filing on Monday.

The board will look into raising funds through "one or more instruments including equity shares, convertible securities of any description or warrants or debt securities, through preferential issue, private placements, rights issue or any other methods or combination thereof as may be permitted under applicable laws," it said.

The decision would be subject to regulatory and statutory approvals as may be required, including the approval of the shareholders of the company, it said.

The shares of Tata Power on Monday closed at Rs 44.75, lower by 3.45 per cent from its previous close.