Jaiprakash Associates to raise up to Rs 5,000 crore

NEW DELHI: Infrastructure major Jaiprakash Associates will seek shareholders' approval for raising up to Rs 5,000 crore through private placement of non-convertible debentures.

The company will seek shareholders' permission at its 18th annual general meeting on December 24.

In a filing to the BSE, the company said, "With a view to meet the company's requirement of funds for capital expenditure...the company might utilise the option of raising funds by way of issue and allotment of non-convertible debentures on private placement basis, in one or more tranches/series/currencies with a limit of Rs 5,000 crore."

Jaiprakash Associates is the flagship company of the Jaypee group, which is a diversified infrastructure company with interests in engineering, construction, cement, power, real estate, expressways, fertiliser, hospitality, healthcare, sports, IT and education.