Jaypee Hotels to hold shareholders meet to get nod for merger

MUMBAI: Jaypee Hotels on Thursday said it will hold a meeting of its shareholders and creditors this month to seek their nod for the merger of the company with Jaiprakash Associates.

The company will hold a meeting of its shareholders and creditors on March 28 for the purpose of considering the proposed scheme of amalgamation of the firm with Jaiprakash Associates, the hotel chain operator said in a filing to the National Stock Exchange.

Under the scheme of amalgamation, Jaypee Hotels and other group firms Jaypee Cement, Jaiprakash Enterprises and Gujarat Anjan Cement would merge with Jaiprakash Associates.

Shares of Jaypee Hotels today closed at Rs 60.50, down 0.41 per cent on the NSE.