Tata Sons pledges 2.13 crore shares in Tata Power

Tata Sons said on Tuesday that it has pledged 2.13 crore shares in Tata Power, India's largest private power utility, to raise funds for the group.

The worth of pledged shares stood at about Rs 187 crore, as per Tuesday's market price of Rs 87.65.

Tata Sons, the holding company of the Tata Group, pledged 21,350,000 shares, amounting to a 0.90 per cent stake, in Tata Power, the latter said in a regulatory filing to the stock exchange.

Tata Sons holds 70,75,11,570 shares, or a 29.81 per cent stake, in Tata Power. Of which, 35,350,000 shares are already encumbered.

Shares in Tata Power, on Tuesday, ended at Rs 87.65 apiece on the BSE, down 1.13 per cent from the previous close.