Jaiprakash Power Ventures promoter pledges shares

At the end of September quarter, Jaiprakash Associates held 61% stake while that of Jaypee Infra Ventures stood at 4%

Jaiprakash Power Ventures today said one of its promoters, Jaypee Infra Ventures, has pledged over 2% of its shareholding in the company.

The company has two promoter group entities -- Jaiprakash Associates and Jaypee Infra Ventures.

Jaypee Infra has pledged over 6.13 crore shares out of more than 12.56 crore equities held in Jaiprakash Power. This translates to little over two% of the promoter entity's total stake.

According to a regulatory filing, the total of 12,56,47,637 shares make up for around 4.28%.

"6,13,48,305 equity shares of Jaypee Power Ventures Ltd held by Jaypee Infra Ventures pledged in favour of IDBI Trusteeship Services Ltd (Security Trustee) with respect to the loan of (Rs) 12 billion sanctioned by ICICI Bank Ltd to Jaiprakash Power Ventures Ltd," the filing said.

At the end of September quarter, Jaiprakash Associates held 60.69% stake while that of Jaypee Infra Ventures stood at 4.28%.

Jaiprakash Power has interests in electricity generation as well as transmission segments.