Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: Central Excise rule to resale the machines to a new company :: cpt :: due date for vat payment :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: VAT RATES :: articles on VAT and GST in India :: VAT Audit :: TDS :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« Mergers and Acquisitions »
 Indian chemical industry: Will M&A be a game changer?
 Samsung to continue seeking mergers and acquisitions
 Deals of the day-Mergers and acquisitions May 18, 2017,
 Forced mergers, sacking on cards as RBI gets tough with misfiring big banks
 Why India Inc is on an M&A spree, preferring inorganic growth to investing in fresh projects and capacities
 Banking consolidation 2nd wave: FinMin sees room for 3-4 more PSB mergers
 Ministry of Corporate Affairs (MCA) notifies the provisions of cross-border mergers and acquisitions
  GAVS Tech eyes to double revenue from mergers & acquisitions
 ACC, Ambuja Cements evaluating merger
 News Corp VCCircle Mergers & Acquisitions Summit 2017
 A new merger control philosophy

Jaiprakash Power Venture to merge group power firms
February, 15th 2011

Jaiprakash Power Venture (JPVL) will merge two of its subsidiaries , Bina Power Supply Company and Jaypee Karcham Hydro Corp , with itself. The merger is aimed at consolidating power generation under one umbrella that will help in synergising the companys financials and eliminate the need of multiple listing, JAL executive chairman Manoj Gaur said.

The merger will result in creation of 14% treasury stock of JPVL, which fully owns Bina Power and holds 56.9% in JKHCL. The balance 43% JKHCL stake is owned by Jaiprakash Associate (JAL), the group flagship. Since JPVL will issue fresh shares against the shares of these two subsidiaries, the promoters sake in the flagship power entity will come down to 67.24% from the current 76.25%. Under the proposed merger plan that was approved by the boards of the three companies on Monday, JKHCLs shareholders will receive two shares of JPVL for every 10 shares held.

JKHCL is likely to commission a 1,000MW hydro power project in Himachal Pradesh by March end. JPVL will issue two shares for 13 shares of Bina Power, which is setting up a 1,500MW thermal project in Madhya Pradesh.

Of this, 500MW is scheduled to be commissioned by March end. After the merger of these two entities, the JPVL treasury stock will be parked with two separate trusts.

These two trusts will own 14% stock of JPVL, which can be monetized in future in case the company needs money, JPVL managing director Suren Jain said. At Monday closing price of . 40.70, JPVL has a market cap of . 8,529 crore. JPVL is currently implementing projects totalling 13,720MW, 60% of which are thermal and the rest hydel. The company has already achieved financial closure for 8,500MW.

The Jaypee Group, which is present in infrastructure, construction, cement, realty and hospitality sectors, has kicked off an expansion plan in cement and power. The group has a cement capacity of 23 million tonnes, which is expected to reach 34mt by next fiscal.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions