Jaiprakash Associates has received its shareholders’ approval to raise up to Rs 2,000 crore through sale of securities. The special resolution was approved by the shareholders at the company’s annual general meeting held on September 23.
The company will use the raised amount for capital expenditure, reduction of debt, general corporate purposes and for raising working capital requirement for real estate business and other businesses.
Jaiparaksh Associates is a diversified infrastructure company and is engaged in segments such as engineering, construction and real estate development, manufacture and marketing of cement, hospitality and sports management.
