Tata Power announced that as part of the growth strategy, the company has taken several steps to deleverage the balance sheet and improve the capital structure including creation of an InVIT for its renewables business.
The company has already made an application to SEBI for an in-principle approval for creation of the InVIT. Anchor investors in the InVIT have started their due diligence of the assets proposed to be transferred to InVIT and the company expects to sign the binding documents in the next few months.
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