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Mar 05, 2014, 06.10 PM IST | Source: PTI

Tata Power to finalise on Rs 2,000crore rights issue on Sat

It will also decide on entitlement ratio, issue price, issue size, record date, timing of the rights issue and other related matters.

The board committee of  Tata Power is meeting on Saturday to finalise on the proposed rights issue to raise Rs 2,000 crore.
     
"Tata Power has said that the duly empowered committee of the Board will meet on March 8, this week to consider and decide upon the terms and conditions of the proposed rights issue," the company said in a stock exchange filing.

It will also decide on entitlement ratio, issue price, issue size, record date , timing of the rights issue and other related matters.

Also read: Tata Power expects to have 5 lakh customers by month-end
     
The money will be utilised for funding expansion plans.
     
Tata Power has an operational capacity of more than 8,560 MW while projects having capacity of over 840 MW are under execution.
     
The company reported a consolidated net loss of Rs 74.91 crore in the three months ended December 2013. During the same period, the company's total income from operations was Rs 8,700.02 crore.
     
Shares of Tata Power ended at Rs 77.45, down 3.25 percent on the BSE.

Tata Power stock price

On October 22, 2014, Tata Power Company closed at Rs 87.75, down Rs 0.1, or 0.11 percent. The 52-week high of the share was Rs 115.25 and the 52-week low was Rs 68.95.


The company's trailing 12-month (TTM) EPS was at Rs 3.15 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 27.86. The latest book value of the company is Rs 52.69 per share. At current value, the price-to-book value of the company is 1.67.

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