Jaiprakash Power Ventures to raise Rs.3500 crore

The Board of Directors of Jaiprakash Power Ventures Ltd at its meeting held on January 12, 2013, has authorised, subject to approval of the Shareholders by passing the Resolution by way of Postal Ballot, raising of funds / resources upto Rs. 3500 crores through various Domestic/International options, including QIP/ ECB with rights of conversion into shares / FCCBs/ ADRs/ GDRs/ FPO/ Optionally or Compulsorily Convertible Redeemable Preference Shares etc., pursuant to Section 81 of the Companies Act, 1958 for the Company's ongoing projects and/or the projects of its joint venture and subsidiary companies.

The Jaiprakash Power Ventures Ltd stock closed the day at Rs.38.35, down by Rs.1.90 or 4.72%. The stock hit an intraday high of Rs.40.30 and low of Rs.36.30.

The total traded quantity was 6.72 lakhs compared to 2 week average of 5.16 lakhs.

Source : Equity Bulls

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