ICICI Bank buys 814.4 million shares of Jaiprakash Power Ventures
Jaiprakash Power Ventures Ltd (JVPL) on Thursday said ICICI Bank Ltd has acquired its 814.4 million shares under the strategic debt restructuring (SDR) plan by its lenders.“ICICI Bank Ltd has acquired 81,44,90,000 shares of Jaiprakash Power Ventures Ltd by conversion of debentures into equity,” the company said in a BSE filing.“Accordingly, at 18 February 2017, the total equity shareholding of the bank stands at 13.72% (of the total share capital of the company),” it said. Before this acquisition, the bank held 79,61,535 shares or 0.13% of the equity in the company, it said.It had last week alloted 3058 million equity shares to its lenders as part of debt restructuring scheme, which would reduce the debt of Rs3,058 crore.JPVL’s equity share.....