The Board of Directors of Tata Power Renewable Energy Limited (TPREL) has approved the allotment of 200 million compulsorily convertible preference shares at face value of Rs 100 each at par aggregating to Rs 20 billion on a preferential basis to GreenForest New Energies Bidco Limited (GreenForest).
With this, both the tranches of investment of Rs 20 billion each in TPREL made by GreenForest are completed in accordance with the terms of the agreements.