MUMBAI, July 4 (Reuters) - Indian utility Jaiprakash Hydropwer Ltd said on Saturday its board had approved raising up to 15 billion rupees ($314 million) through the sale of shares, depositary receipts or bonds.
In a statement to the stock exchange, the company said its board had also approved absorbing unlisted group firm Jaiprakash Power Ventures Ltd, which is setting up a 400-megawatt hydroelectric plant in northern India.
It said it would issue three shares of Jaiprakash Hydropower for every share held in Jaiprakash Power Ventures.
($1=47.8 rupees)
(Reporting by Prashant Mehra; Editing by Valerie Lee)
((prashant.mehra@thomsonreuters.com; +91 22 6636 9029; Reuters Messaging: prashant.mehra.reuters.com@reuters.net)) Keywords: JAIPRAKASH FUNDS/ (If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
In a statement to the stock exchange, the company said its board had also approved absorbing unlisted group firm Jaiprakash Power Ventures Ltd, which is setting up a 400-megawatt hydroelectric plant in northern India.
It said it would issue three shares of Jaiprakash Hydropower for every share held in Jaiprakash Power Ventures.
($1=47.8 rupees)
(Reporting by Prashant Mehra; Editing by Valerie Lee)
((prashant.mehra@thomsonreuters.com; +91 22 6636 9029; Reuters Messaging: prashant.mehra.reuters.com@reuters.net)) Keywords: JAIPRAKASH FUNDS/ (If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
