The Tata Power Company Limited, India’s largest integrated private power company today announced that it has priced an equity offering in the form of Global Depository Receipts (GDRs) for a gross amount of Rs US$ 335 million. Out of this, each GDR will represent 1 equity share, of a nomin
al value Rs.10 per equity share (the "Shares") of the Company. The Company will be issuing 14,838,110 GDRs and each GDR has been priced at US$ 22.577 (Rs. 48.27 is the reference exchange rate) as per relevant pricing guidelines for GDRs. The issue was priced on 21st July 2009 and listing is expected to take place on or about 27th July, 2009. The SEBI floor price for the issue as on date is Rs.1089.78 as per the SEBI pricing formula. Application has been made to the Luxembourg Stock Exchange (the "LuxSE") to list the GDRs. In principle approvals have been obtained from Bombay Stock Exchange and National Stock Exchange to list the underlying shares. The Company intends to use the net proceeds of the Offering to fund capital expenditures of its existing power plants, projects under implementation and other project plans of the Company (including projects undertaken through its subsidiaries) and any other purpose permitted by applicable laws and regulations from time to time.
al value Rs.10 per equity share (the "Shares") of the Company. The Company will be issuing 14,838,110 GDRs and each GDR has been priced at US$ 22.577 (Rs. 48.27 is the reference exchange rate) as per relevant pricing guidelines for GDRs. The issue was priced on 21st July 2009 and listing is expected to take place on or about 27th July, 2009. The SEBI floor price for the issue as on date is Rs.1089.78 as per the SEBI pricing formula. Application has been made to the Luxembourg Stock Exchange (the "LuxSE") to list the GDRs. In principle approvals have been obtained from Bombay Stock Exchange and National Stock Exchange to list the underlying shares. The Company intends to use the net proceeds of the Offering to fund capital expenditures of its existing power plants, projects under implementation and other project plans of the Company (including projects undertaken through its subsidiaries) and any other purpose permitted by applicable laws and regulations from time to time.For Further Details Visit At:www.moneycontrol.com/india/news/business/tata-power-raised-us36-335-million-through-gdrs/407334
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