Jaiprakash Power raises $175 million from QIP

The Indian power company makes use of a new rule allowing it to price the deal at a 5% discount to the floor price, and increases the deal size due to strong demand.

<div style="text-align: left;"> Jaiprakash Power operates three hydropower plants and has several other hydro and thermal power plants under development (AFP)</div>

February 21, 2013

Jaiprakash Power Ventures, an Indian power producer, has raised Rs9.5 billion ($175 million) from a qualified institutional placement (QIP), after pricing the deal at a 5% discount to the floor price. The discount to the latest close was as wide as 8%.

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