Tata Power's wholly owned subsidiary redeems USD 450 million Fixed To Floating Rate Subordinated Notes

Bhira Investments Limited ("Bhira"), a wholly owned subsidiary of Tata Power Company Ltd, has redeemed USD 450 Mn. Fixed to Floating Rate Subordinated Notes on September 02, 2014, as per the notice for early redemption to the Trustee dated July 31, 2014.

The redemption has been financed by way of loans raised by Bhira for this specific purpose.

Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.90.05 as compared to the previous close of Rs. 89.1. The total number of shares traded during the day was 628353 in over 6061 trades.

The stock hit an intraday high of Rs. 90.65 and intraday low of 89.1. The net turnover during the day was Rs. 56502287.

Source : Equity Bulls

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