Home News Industry News Jaiprakash Associates to raise Rs 1,550 ​ Cr​ via QIP

    Jaiprakash Associates to raise Rs 1,550 ​ Cr​ via QIP

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    Jaiprakash Associates launched QIP to raise up to Rs 1,550 cr
    Jaiprakash Associates launched QIP to raise up to Rs 1,550 cr

    Jaiprakash Associates on Wednesday launched its qualified institutional placement (QIP) issue to raise up to Rs 1,550 crore. The company will use the proceeds to retire its debt of Rs 61,100 crore.

    The stock closed 1.37 per cent lower on the previous close at Rs 75.5 on Wednesday. Bankers said the QIP price had been set at between Rs 70.4 and Rs 73.96 a share.

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