Tata Power Company Ltd on Tuesday said it plans to enter the shipping business, and raise Rs 4,000 crore by issuing securities in domestic or international markets.

The company will seek shareholders' nod through a special resolution for starting the business of ship-owning, carriers and charterers by land and sea and barge-owning, it said in a filing to the Bombay Stock Exchange.

TPC would also seek the consent of shareholders to mop up up to Rs 4,000 crore through issue of various securities such as equity, convertible bonds or global depository receipts in domestic or international markets.

Tata Power's plans to foray into the shipping business comes after its acquisition of 30 per cent stake in three Indonesian coal firms early this year for $1.1 billion. The company plans to ship coal from Indonesia for its power plants, including the 4,000 MW Mundra project in Gujarat.

Shareholders can give their consent through postal ballot by January 16, the company said. It did not specifically say that the money being raised is for the new business.

TPC shares ended 3.15 per cent down to Rs 1,255.10 on the Bombay Stock Exchange on Tuesday in an overall bearish market.

The company said securities would be allotted when necessary and at a price to be decided in consultation with the book running lead managers on such terms and conditions as the board may in its absolute discretion decide.

The board of directors has appointed Shirin Bharucha as the scrutinizer for conducting the postal ballot, it said. The company would announce the results of the postal ballot on or before January 18, it said.