Tata Power to sell stake in Indian Energy Exchange via IPO, shares jump 4%

Tata Power to sell stake in Indian Energy Exchange via IPO, shares jump 4%

Tata Power shares gained as much as 4 percent in morning trade Tuesday as the company is expected to dilute its stake in Indian Energy Exchange through initial public offering.

The company is one of shareholders of Indian Energy Exchange that has filed draft red herring prospectus with capital markets regulator SEBI to float an IPO.

Existing shareholders including Tata Power Company, private equity arm of Aditya Birla Group, Madison India Capital and Renuka Ramnath-led Multiples Alternate Asset Management will sell 60.65 lakh shares in the company via IPO. Read More…

 

Credit By : Money Control

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