Jindal Power Limited files DRHP with SEBI

Jindal Steel & Power Ltd has announced that Jindal Power Ltd. (JPL), a subsidiary of the Company, proposes a Public Issue of equity shares through 100% book building method in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and has filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India.

Pursuant to this, JPL proposes to raise INR 7,200 Crores and intends to utilize the net proceeds of the Issue to part finance the construction and development of various Thermal Power Projects and party for the General Corporate Purposes.

The Jindal Steel & Power Ltd Stock was trading at Rs.728.50, up by Rs.2.80 or 0.39%. The stock hit an intraday high of Rs.735 and low of Rs.724.25.

The total traded quantity was 251145 compared to 2 week average of 488242.

Source : Equity Bulls

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