The share of this Small-cap company gained up to 7.2 percent after the company signed debt settlement agreements of 18.9 crore equity shares with ICICI Bank.
With a market capitalization of Rs 4,970.56, Jaiprakash Associate Ltd, On Wednesday, the shares were trading at Rs 20.15 a Share, an increase of 5.17 percent from the previous close price.
According to the exchange filing, Jaiprakash Associate Ltd signed debt settlement agreements of 18.9 crore equity shares with ICICI Bank. As per the consideration, shares will arrive on the basis of the closing price at the National Stock Exchange of India Ltd on the day prior to the day of the actual transfer of shares to the Demat account of the Lender.
Jaiprakash Associate Ltd has a total borrowing of Rs 29,272 crores which is repayable by 2037 from this 4,258 crores are overdue as of October 31, 2023. Out of the said borrowing of Rs.29,272 Crore, Rs.18,682 Crore will be further reduced on transfer to the proposed Special Purpose Vehicle (SPV) for which the Scheme of Arrangement duly approved by all the stakeholders, is pending sanction of NCLT.
Have a look into the company’s finances, the company’s revenue decreased by 63 percent from Rs 1,953.96 Q2FY23 to Rs 1,895.51 Q2FY24. Further, During the same period, net loss magnified from Rs 358.17 crores to Rs 205.19 crores.
As per the recent shareholding pattern, the company’s promoters own 37.7 percent, retail shareholders own a 60.07 percent stake and foreign institutional investors own a 0.88 percent stake in the company.
Jaiprakash Associate Ltd gave a multi-bagger return of 185.21 percent in six months. Jaiprakash Power Venture Limited is involved in the mining of coal, sand, and cement, as well as the production of thermal and hydroelectric power.
Written by:- Abhishek Singh
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