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New UserNod for Tata Power Renewable, NewGen amalgamation
08 Dec 2015
India Coal Market Watch
December 7: Tata Power informed the Bombay Stock Exchange (BSE) that the Bombay High Court sanctioned the amalgamation of Tata Power Renewable Energy Limited (TPREL) and NewGen Saurastra Windfirms Limited (NSW). Here, it can be mentioned that NSW is a wholly-owned subsidiary of TPREL, whereas TPREL is a wholly-owned subsidiary of Tata Power Company Limited.
Though it is a consolidation between the two related parties of TATA Power, the mother company is not a party of this amalgamation. The company expects the amalgamation to lead to a more efficient utilisation of capital. It is also expected to reduce overheads and prevent cost duplication.
The asset details are given below
|
Particulars |
NSW |
TPREL |
|
Total Assets as on April 1,2014 |
184.91 |
1174.24 |
|
Total Revenue for the year ended March 31, 2014 |
33.34 |
92.24 |
|
Total Asset as on September 30, 2015 |
164.77 |
1468.82 |
|
Total Revenue for the half year ended September 30,2015 |
20.32 |
102.50 |
Fig in Rs crore