The stock of Jaiprakash Power Ventures crashed 6.54 per cent to Rs 30.70 in early trade after the company announced a QIB issue.

Jaiprakash Power Ventures Ltd has informed the BSE that its Rs 3,500-crore qualified institutions placement was opened for subscription from February 19. The company has fixed the floor price at Rs 31.93 a share.

The company plans to raise funds for the ongoing projects and the projects of its joint venture and subsidiary companies.

(This article was published on February 20, 2013)
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