Tata Power completes Welspun Renewable Energy acquisition

Tata Power completes Welspun Renewable Energy acquisition
The company further stated that it has appointed Chetan Tolia as CEO of the newly bought firm. Representational Image. Image Source: Pixabay

Welspun Enterprises Ltd announced in a BSE filing on Thursday that Tata Power Renewable Energy has completed acquisition of 100% shareholding of Welspun Renewable Energy.

The company now indirectly holds only 13.66% equity stake in Welspun Renewable Energy services.

In a release Tata Power stated that it has completed acquisition of 100% shareholding in Welspun Renewables and its subsidiaries.

The company further stated that it has appointed Chetan Tolia as CEO of the newly bought firm. 

The deal represents the largest transaction in renewables space in India, the company stated as WREPL has 1,141 MW of Renewable Power projects comprising of solar and wind power projects.

The enterprise value of the transaction excluding working capital and cash stands at Rs 9,249 crore.

Shares of the company were trading down 4.36% to Rs 62.50 per share, while shares of Tata Power edged up 0.47% to Rs 75.60 per share in early trading sessions on Thursday.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

RECOMMENDED STORIES

https://www.zeebiz.com/personal-finance/photo-gallery-rs-3500-monthly-sip-for-35-years-vs-rs-35000-monthly-sip-for-16-years-which-can-give-you-higher-corpus-in-long-term-compound-interest-benefits-mutual-fund-return-calculator-retirement-planning-334249

Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations

https://www.zeebiz.com/personal-finance/photo-gallery-ppf-interest-rate-maturity-retirement-corpus-planning-calculator-how-to-get-inr-rs-72000-month-tax-free-income-from-public-provident-fund-calculations-80c-tax-benefits-333983

PPF Calculations: How to get Rs 72,000 a month tax-free income from Public Provident Fund?

https://www.zeebiz.com/personal-finance/photo-gallery-power-of-compounding-how-soon-will-monthly-sip-of-rs-11000-reach-rs-8-crore-corpus-target-retirement-financial-planning-with-sip-calculator-334296

Power of Compounding: How soon will monthly SIP of Rs 11,000 reach Rs 8 crore corpus target?

https://www.zeebiz.com/personal-finance/photo-gallery-power-of-compounding-how-long-it-will-take-to-build-rs-5-crore-corpus-target-with-inr-5000-10000-and-15000-monthly-investment-retirement-planning-with-sip-calculator-market-linked-return-334417

Power of Compounding: How long it will take to build Rs 5 crore corpus with Rs 5,000, Rs 10,000 and Rs 15,000 monthly investments?

https://www.zeebiz.com/personal-finance/photo-gallery-sbi-444-day-special-fd-vs-pnb-400-day-fixed-deposit-interest-rate-maturity-calculator-what-will-general-senior-citizens-get-in-return-on-inr-rs-350000-700000-investments-in-guaranteed-fixed-income-333262

SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?

https://www.zeebiz.com/personal-finance/photo-gallery-sbi-fd-and-senior-citizen-savings-scheme-interest-rate-calculator-know-which-guaranteed-return-will-provide-better-income-quarterly-on-rs-20-lakh-investment-in-five-years-calculations-inside-334063

SCSS vs FD: Which guaranteed return scheme will give you more quarterly income on Rs 20,00,000 investment?

https://www.zeebiz.com/market-news/news-short-term-investment-ideas-stocks-to-buy-for-15-days-axis-direct-recommends-fortis-healthcare-aegis-logistics-check-targets-334316

Looking for short term investment ideas? Analysts suggest buying these 2 stocks for potential gain; check targets

https://www.zeebiz.com/personal-finance/news-rs-1111-monthly-sip-for-40-yrs-11111-for-20-yrs-or-22222-for-10-years-which-works-best-at-same-expected-return-334395

Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?

Written By: ZeeBiz WebTeam
Updated: Thu, Sep 15, 2016
11:27 AM IST
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Welspun Enterprises Q2 Results: Net profit falls 11% to Rs 61.56 crore Welspun Enterprises Q2 Results: Net profit falls 11% to Rs 61.56 crore
Welspun Enterprises dividend 2024: Infrastructure developer announces Rs 3/ share payout Welspun Enterprises dividend 2024: Infrastructure developer announces Rs 3/ share payout
Welspun Enterprises gain more than 3% on acquiring majority stake in Michigan Engineers for Rs 137 crore Welspun Enterprises gain more than 3% on acquiring majority stake in Michigan Engineers for Rs 137 crore
Welspun Enterprises share price jumps 3% ahead of board meeting for buyback, dividend Welspun Enterprises share price jumps 3% ahead of board meeting for buyback, dividend

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x