Jaiprakash Associates gains on completing restructuring of FCCBs worth $150 million

29 Nov 2017

Jaiprakash Associates is currently trading at Rs. 18.75, up by 0.10 points or 0.54% from its previous closing of Rs. 18.65 on the BSE.

The scrip opened at Rs. 19.00 and has touched a high and low of Rs. 19.05 and Rs. 18.65 respectively. So far 936712 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 30.40 on 28-Jul-2017 and a 52 week low of Rs. 7.10 on 27-Dec-2016.

Last one week high and low of the scrip stood at Rs. 20.15 and Rs. 17.85 respectively. The current market cap of the company is Rs. 4548.69 crore.

The promoters holding in the company stood at 39.20%, while institutions and non-institutions held 25.85% and 34.95% respectively.

Debt-ridden Jaiprakash Associates has completed the exercise to exchange its $150 million foreign currency convertible bonds (FCCBs) due this year with those maturing in 2020-21.

Recently, the company’s finance committee approved cashless exchange of existing FCCBs due in 2017 with those maturing in 2020-21. Earlier this month, the RBI had approved the proposal. The company had fixed November 28 as the effective date for restructuring.

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.

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