Jaypee Group firm Jaiprakash Power Ventures today said it will raise up to $300 million (around Rs 1,390 crore) by issue of bonds for meeting the capital expenditure of the company, its joint ventures and projects being implemented through company's subsidiaries.
The company has opened its foreign currency convertible bonds (FCCBs) issue to raise $200 million with an option to further raise $100 million if the issue is over-subscribed, Jaiprakash Power Ventures said in a filing to the Bombay Stock Exchange (BSE).
The issue has a coupon rate of five per cent payable on semi-annual basis and the issue would close on February 12, 2010.
Shares of Jaiprakash Power Ventures today closed at Rs 67.55 on the BSE, down 7.66 per cent from previous close.