Jaiprakash Associates announced on Wednesday that, in respect of issue of equity shares of up to USD 250 million (i.e. approx. Rs 15.5 billion) to QIBs through a Qualified Institutions Placement in terms of Chapter VIII of SEBI ICDR Regulations (Issue), the finance committee of the board of directors of the company.
The stock had underperformed the market over the past one month till Jul. 02, 2014, falling 24.93% compared with the Sensex's 4.68% rise. It underperformed the market in past one quarter, declining 9.99% as against 14.59% rise in the Sensex.