Tata Power Company announced that the Board of Directors of Tata Power Renewable Energy Ltd, a wholly owned subsidiary of the Company, on August 18 has permitted the allotment of eight.36 cr Equity shares of Tata Power Renewable Energy Ltd of the face fee of Rs. 10 every at a charge of Rs. 239.22 according to Equity share (consisting of top rate of Rs. 229.22) aggregating to Rs. 1999,99,ninety nine,822 on a preferential foundation to GreenForest New Energies Bidco Ltd, a Company integrated under the laws of England and Wales. This completes Tranche 1 of the transaction. Tranche 2 infusion of Rs. 2,000 crore can be concluded in accordance with the terms of the agreements.
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