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Jaiprakash Power Ventures is seeking the approval of shareholders to convert part of its outstanding debt into equity. In a notification to stock exchanges, the company said it is also seeking shareholder approval to amend the existing terms of the foreign currency convertible bonds worth $200 million with a coupon of 5 per cent. As a part of the strategic debt restructuring scheme, JP Ventures intends to convert a portion of its outstanding debt of ₹3,060 crore into equity. Shares of JP Power Ventures closed at ₹4.10, down 1.2 per cent on the NSE.
The board of Dena Bank has approved raising up to ₹360 crore through an issue of shares, the bank informed the exchanges. The shares issued could be in the form of a rights issue, preferential allotment, or employee stock purchase scheme, among others, the bank, whose board met on Saturday, said. Shares of Dena Bank edged down 0.44 per cent at ₹34.15 on the NSE.
Pincon Spirit on Monday said its board has approved raising up to $30 million through an issue of foreign currency convertible bonds. The board also approved issue of 57 lakh share warrants on preferential basis to various investors. The board has also approved the resignation of Kaushik Chatterjee as chief executive officer with effect from December 21. The board has appointed Himangshu Kedia as company secretary and compliance officer. Shares of Pincon Spirit were up 1.8 per cent at ₹67.30 on the NSE.
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