Logo


Jaiprakash Power Ventures to merge with group company

As a precursor to mobilising around Rs 3,000 crore to Rs 4,000 crore through qualified institutional placement (QIP), Jaiprakash Power Venture Ltd, the wholly owned subsidiary of Jaiprakash Associates Ltd, is set to merge with Jaiprakash Hydro Power Ltd, a company listed on the Indian bourses. Sources in the group said the proposed move is aimed at lhelping JPVL raise funds though equity routes. They added investment bankers have been appointed for the valuation. “JPVL is expected to be valued at around Rs 12,000 to Rs 14,000 crore and the merged entity will be over Rs 16,000 ...