Tata Sons pledges 2.13 crore shares in Tata Power

PTI Posted online: Tuesday, Dec 17, 2013 at 0000 hrs
New Delhi : Tata Sons today said it has pledged 2.13 crore shares in Tata Power to raise funds for the group.

As per today's market price of Rs 87.65, the worth of Tata Power pledged shares stood at about Rs 187 crore.

Tata Sons, the holding company of Tata Group, pledged 21,350,000 shares, amounting to 0.90 per cent stake, in country's largest private power utility Tata Power, the power firm said in a regulatory filing to the stock exchange.

Tata Sons holds 29.81 per cent stake, or 70,75,11,570 shares, in Tata Power. Of this, 35,350,000 shares are already encumbered.

Tata Power shares closed at Rs 87.65, down 1.13 per cent on the BSE.