Through a regulatory filing, Tata Power Renewable Energy has issued 20 crore compulsorily convertible shares on a preferential basis to UK-based GreenForest New Energies Bidco, for Rs 100 each.
Last year the Blackrock-backed GreenForest, had acquired an 11.43 per cent stake in Tata Power Renewable Energy. The tranche of 20 crore shares, is the second such issue after TPREL gave 8.36 crore shares of Rs 239 each to GreenForest, for Rs 2,000 crore.
In total, GreenForest has invested Rs 4,000 crore in the renewable energy arm of Tata Power, through equities so far.
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