Tata Power today said its arm Welspun Renewables Energy has raised Rs 1,200 crore through issuance of non-convertible debentures on private placement basis.
Ousted Chairman of Tata Sons Cyrus Mistry has said the Tata Sons board and Ratan Tata were informed about Tata Power‘s Rs 9,300-crore acquisition of Welspun Renewables Energy.
Corporate India's merger and acquisitions deal tally for April-June 2016 stood at USD 7 billion, up 14 percent from the corresponding quarter a year ago, largely driven by big ticket transactions, an EY report says.
The government has approved eight foreign investment proposals, including plans by L&T Infrastructure Development Projects and Welspun Renewables Energy, totalling Rs 1,024 crore.