Tata Power Company’s rights issue oversubscribed 1.96 times

Tata Power Company, one of India’s largest integrated power companies, has closed subscription to its rights issue on April 15, 2014. The issue has been oversubscribed 1.96 times, wherein the company collected an amount of Rs 3,916.41 crore on application. The company had offered up to 33,22,30,130 equity shares of face value of Rs 1 each at a price of Rs 60 per equity share for an amount aggregating to Rs 1,993.38 crore on a rights basis to existing shareholders. JM Financial Institutional Securities, BNP Paribas, HSBC Securities & Capital Markets (India), Kotak Mahindra Capital Company and SBI Capital Markets were the lead managers to the issue. Tata Power is India's largest integrated power company with a significant international presence. The Company has an installed generation capacity of 8521 MW in India and a presence in all the segments of the power sector viz. Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.