Jaiprakash Power Ventures Ltd to seek shareholders nod for raising funds

The Board of Directors of Jaiprakash Power Ventures Ltd at its meeting held on May 17, 2014, has approved the proposal for seeking shareholders' approval/renewal of shareholders' approval which is valid till July 05, 2014, to raise funds 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., upto Rs. 3000 crore (against Rs.2500 crore already approved on July 06, 2013) for the Company's ongoing projects and/or the projects of its joint venture and subsidiary companies and also to reduce Company's debt.

The Board also co-opted Shri S.D. Nailwal and Ms. Sunita Joshi on the Board of the Company as Non-executive Directors.

Shares of Jaiprakash Power Ventures Limited was last trading in BSE at Rs.23.16 as compared to the previous close of Rs. 25.24. The total number of shares traded during the day was 6453372 in over 19083 trades.

The stock hit an intraday high of Rs. 26.63 and intraday low of 20.3. The net turnover during the day was Rs. 159549586.

Source : Equity Bulls

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