Jaiprakash Power Looks to Raise up to .` 3,000 crore

The Economic Times - - Companies -

Jaiprakash Power Ven­tures plans to raise up to .` 3,000 crore ($508 mil­lion) in new debt and eq­uity to fund fu­ture projects and pay down its debts, the com­pany said on Mon­day, send­ing its shares up 30%. Jaiprakash said it was seek­ing share­holder ap­proval for the cap­i­tal hike, which re­places an al­ready ap­proved .` 2,500-crore plan. Jaiprakash, a sub­sidiary of Jaiprakash As­so­ciates, is try­ing to pay down its debts to im­prove prof­itabil­ity.

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