JP Associates raises $100 mln from share sale: source
MUMBAI (Reuters) - Jaiprakash Associates Ltd(JAIA.NS) has raised $100 million from the sale of shares to institutional investors for its working capital needs, a source with direct knowledge of the matter told Reuters on Friday.
Jaiprakash, an engineering and construction company, sold the shares at 83 rupees each, said the source who declined to be identified as he was not authorised to speak to the media. The price was at a discount of 4.5 percent from its Thursday's close.
The buyers for Jaiprakash shares included domestic and international fund managers and the book was oversubscribed, the source said, adding that Standard Chartered was the sole adviser on the deal.
(Reporting by Sumeet Chatterjee and Aditi Shah; Editing by Anand Basu)
- Tweet this
- Share this
- Digg this
- Hong Kong protests approach potential National Day flashpoint
- OPEC oil output hits highest since 2012 on Libya, Saudi-Reuters Survey
- Kurds seize Iraq/Syria border post; Sunni tribe joins fight against Islamic State
- Obama, Modi discuss trade, climate, Islamic State at White House
- UPDATE 3-Drug, medical device companies paid billions to U.S. physicians, hospitals in 2013 -data
U.S. President Barack Obama and Indian Prime Minister Narendra Modi worked to deepen improving ties between their countries on Tuesday, but emerged from their second meeting in two days with little in the way of major agreements. Story | Full Coverage
China final HSBC PMI steady in September on stronger global demand but risks remain Full Article