Jyoti to raise Rs 9cr from PruICICI MF

The board of directors of Jyoti, which met today, approved a proposal to issue seven lakh equity shares of Rs 10 each at a premium of Rs 119 per share to Prudential ICICI Asset Management Company.

According to a release issued by Jyoti to the BSE today, the proposal is subject to approval of the shareholders and other necessary approvals.

"The board has also delegated the authority to chairman and managing director and/or other directors to execute the necessary legal documentation in connection with the issue of 12 lakh shares to Hindustan Construction Company on preferential basis following the special resolution already passed by the shareholders at the EGM held on February 14, 2006," the release added.