Tata Power will disinvest holdings

Thebullishtrends: Tata Power share price closed yesterday at Rs.1,211.15 (+Rs.41.60) India's largest private elerctricity generator Tata Power, announced that it will disinvest holdings or sell assets to funds expansion activities, approx of costing Rs 6,000 crore. The company estimates a requirement of Rs 6,000 crore to fund its projects under implementation.

Tata Power will raise its power generation capacity to 12,861 MW by 2013. Of the Rs 6,000 crore, Rs 2,900 crore would come from internal accruals and Rs 1,900 crore would be raised by issuing warrants and preferential shares. The remaining will be raised through "disinvestment of various holdings or assets and equity dilution through warrants, preferential issue and rights if required