Thursday October 15, 11:00 AM

Tata Power plans raising up to $250 mln - report

MUMBAI (Reuters) - Tata Power is exploring options to raise about $200-250 million to part finance its expansion plans, the Economic Times said on Thursday.

The company is planning a new power plant and developing the infrastructure for retail customers in Mumbai, it said.

It will develop the network to supply electricity to retail customers, where there is no existing structure, the paper said.

The paper quoted a Tata Power spokeswoman as saying the company was looking at a number of options but no firm decision had been taken.

Tata Power is looking at either a repeat GDR or a placement to institutions, the report said.

In July, the company had raised $335 million through a sale of global depositary receipts.

In August, the company said it would spend $4.9 billion over three years to expand capacity, which included a 4,000 mega watt facility at Mundra in Gujarat and a 1,050 MW project in a joint venture in West Bengal.

(Reporting by Janaki Krishnan; Editing by Jarshad Kakkrakandy)

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