JP Hydro rises on fund raising plans
Shares of Jaiprakash Hydropower gained momentum after the company’s board approved raising upto Rs 1500 crore through issue of financial securities in the market.
By ET Bureau |
MUMBAI: Shares of Jaiprakash Hydropower gained momentum after the company���s board approved raising upto Rs 1500 crore through issue of financial securities in the market.
The company said its board had also approved absorbing its arm Jaiprakash Power Ventures Ltd, which is setting up a 400-megawatt hydroelectric plant.
As per the merger agreement, the shareholders of JPVL would get three shares in Jaiprakash Hydro Power Ltd for each share held.
At 10:20 am, shares of JP Hydro were trading at Rs 94.15, up 2 per cent on the BSE.
The company said its board had also approved absorbing its arm Jaiprakash Power Ventures Ltd, which is setting up a 400-megawatt hydroelectric plant.
As per the merger agreement, the shareholders of JPVL would get three shares in Jaiprakash Hydro Power Ltd for each share held.
At 10:20 am, shares of JP Hydro were trading at Rs 94.15, up 2 per cent on the BSE.
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