Tata Power rises on acquiring 51% equity stake each in TPSODL, TPWODL
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Tata Power Company is currently trading at Rs. 83.65, up by 1.80 points or 2.20% from its previous closing of Rs. 81.85 on the BSE.

The scrip opened at Rs. 84.50 and has touched a high and low of Rs. 84.60 and Rs. 83.10 respectively. So far 547311 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 84.60 on 08-Jan-2021 and a 52 week low of Rs. 27.00 on 12-May-2020.

Last one week high and low of the scrip stood at Rs. 84.60 and Rs. 77.60 respectively. The current market cap of the company is Rs. 26153.85 crore.

The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 37.53% and 15.61% respectively.

Tata Power has acquired 51% equity stake each in TP Southern Odisha Distribution (TPSODL) and TP Western Odisha Distribution (TPWODL) for a consideration of Rs 127.50 crore and Rs 255 crore, respectively. GRIDCO (GRIDCO) will hold balance 49% equity stake each on TPSODL and TPWODL.

With this takeover, the company’s distribution circles will expand to the western (TPWODL) and southern part (TPSODL) of Odisha with geographical spread of more than 47,000 sq km each. It will manage a network of more than 100,000 CKT. KMs. each for a license period of 25 years.

With the inclusion of two additional distribution utilities, Tata Power expands its consumer base to 9.5 million from the present base of 5.2 million across Mumbai, New Delhi, Central part of Odisha and Ajmer.

Tata Power is India’s largest integrated power company.

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