JP Associates raises $100m from share sale
Feb 01 2013 , Mumbai
Jaiprakash, an engineering and construction company, sold the shares at 83 rupees each, said the source who declined to be identified as he was not authorised to speak to the media. The price was at a discount of 4.5 percent from its Thursday's close.
The buyers for Jaiprakash shares included domestic and international fund managers and the book was oversubscribed, the source said, adding that Standard Chartered was the sole adviser on the deal.