Jaiprakash Power share price rises 4% on allotment of preference shares

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26 Aug, 2025 12:21

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Jaiprakash Power Ventures share price rose 4.5 percent intraday on December 24 after the company allotted convertible preference shares to the banks & financial institutions.

The committee of directors for debt restructuring has allotted 3805.53 core worth of cumulative compulsory convertible preference shares to the banks & financial institutions

Consequent upon allotment of CCPs, the paid-up cumulative compulsory convertible preference share capital of the company shall be increased to Rs 3,805.53 crore.

Also, the committee of directors allotted 225, 9.5% cumulative redeemable preference shares (CRPS) (Series-B) of nominal value of Rs 10 lakh each to Corporation Bank for an amount of Rs 22.50 crore on private placement basis on conversion of part of their outstanding loans, which shall be redeemed in 9 instalments of Rs 2.5 crore per year.

Post allotment of above preference shares of Rs 22.50 crore to Corporation Bank, the paid-up cumulative redeemable preference share capital shall be increased to Rs 34.52 crore including Rs 12.02 crore cumulative redeemable preference shares (Series-A) allotted to Canara Bank earlier.

At 11:56 hrs, Jaiprakash Power Ventures was quoting at Rs 1.38, up Rs 0.06, or 4.55 percent on the BSE.