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The board of directors of Energy Development Company has decided to bring in financial partners and strategic investors. The company has been executing several power projects in the states of Arunachal Pradesh and Uttarakhand through various subsidiaries, requires large funds to complete these projects. The ongoing preferential issue of shares is part of the financial restructuring that aims to generate resources for these projects, the company said in the statement. Shares of Energy Development jumped 4.9 per cent at ₹35.5 on the NSE.
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