Mumbai/IBNS, July 14 -- Tata Power Co. Ltd. is considering raising at least $450 million through overseas borrowings to support its growing business and capital requirements, NDTV Profit reported.

Loan to be backed by overseas holdings

The proposed borrowing is expected to be backed by Tata Power's shareholdings in its subsidiaries in Indonesia and Singapore, the report said.

However, the discussions are still at a preliminary stage, and key terms of the transaction, including the pricing and final loan amount, have not yet been finalised. The company is yet to make an official announcement.

Why Tata Power is looking to raise funds

The planned fundraising comes as Tata Power continues to expand its footprint across renewable energy, ...