Tata Power gets shareholders' nod to raise Rs 7,000 crore via bonds

New Delhi: Tata Power on Thursday said it has got shareholders' nod to raise Rs 7,000 crore through the issuance of redeemable, non-convertible debentures on private placement basis.

It said in a BSE filing that the special resolution for issuing cumulative/non-cumulative, listed or unlisted, redeemable non-convertible debentures/bonds (NCDs) on private placement basis, in one or more series/tranches for up to Rs 7,000 crore was approved by the shareholders.

The resolution was listed on the agenda of 98th Annual General Meeting held on Wednesday.

The shareholders have also approved the ordinary resolution to increase the authorised share capital of the company.

Besides, the shareholders also approved the appointment of N Chandrasekaran, S Padmanabhan, Anjali Bansal, Vibha Padalkar, Sanjay V Bhandarkar and K M Chandrasekhar as directors of the company.

They also re-appointed Ashok S Sethi as COO and Executive Director of the company.