Renascent Power Ventures Private Limited (Renascent) has today acquired tlie 75.01% equity stake and 27,00,00,000 Preference shares of Rs.1 0/- each of Prayagraj Power Generation Company Limited.
Renascent is a wholly owned subsidiary of Resurgent Power Ventures Pte. Limited (a joint venture between Tata Power International Pte. Limited (TPIPL) (a wholly owned subsidiary of Tata Power), ICICI Bank Ltd. (ICICI Bank) and other reputed global investors, set up to acquire assets in the Indian Power Sector. TPIPL owns 26% stake in Resurgent Power and the balance 74% is held by ICICI Bank and other global investors.
Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.55.85 as compared to the previous close of Rs. 55.5. The total number of shares traded during the day was 239279 in over 1138 trades.
The stock hit an intraday high of Rs. 56.1 and intraday low of 55. The net turnover during the day was Rs. 13326907.