The board will also consider amendment in the existing terms and conditions of FCCB and conversion of loan from unsecured creditor(s) into equity shares.
Shares of Jaiprakash Power Ventures added more than 11 percent intraday Wednesday as company to consider loan conversion into preference shares.
A meeting of the board of directors of the company is scheduled on August 31 to consider and approve the conversion of loan of lenders (Banks and Financial Institutions) into compulsory convertible preference shares upto an amount of Rs 4,000 crore.
The board will also consider amendment in the existing terms and conditions of FCCB and conversion of loan from unsecured creditor(s) into equity shares.
The trading window shall remain closed from August 28, September 2.
At 10:29 hrs Jaiprakash Power Ventures was quoting at Rs 3.12, up Rs 0.22, or 7.59 percent.
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