Jaiprakash to sell 18cr shares in JHPL

Jaiprakash Associates has decided to offer for sale 18,00,00,000 equity shares constituting 36.66% of the total equity capital held by it in Jaiprakash Hydro-Power (JHPL), a wholly owned subsidiary of the company, through the process of book building.

According to a release issued to the BSE, out of the total offer for sale, 1.80 crore equity shares have been reserved for allotment to the shareholders of the company and Jaypee Hotels on competitive basis.

For the purpose of determining the shareholders of the company who are eligible to participate in the reservation portion of the offer, the cut-off date has been fixed as March 11, 2005, the release further added.