Jaiprakash Power Ventures to raise funds

capital market | Mumbai |

Through issue of securities

The board of Jaiprakash Power Ventures in its meeting on 14 March 2012 has approved the raising of funds / resources to the tune of Rs 3500 crore through various domestic / international options, including QIP / ECB with conversion into shares/ FCCBs/ ADRs/ GDRs/ FPO/ optionally or compulsorily convertible redeemable preference shares etc, subject to approval of shareholders.

The board has approved the appointment of Subroto Gupta as nominee director of IDBI Bank on the board of the company with effect from 17 February 2012.

Further, the board has appointed J N Gupta as non-executive director on the board of the company with effect from 14 March 2012.

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