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A big news related to JP Group is coming. Jaiprakash Associates (JP Associates) has raised its Rs. 10,000 crore loan proposed to be repaid in 2 years. If the lending banks approve its debt restructuring plan and Rs. 600 crore to release the block banking limit. People with knowledge of this matter have said. Meanwhile, shares of Jaypee Associates and Jaypee Power Ventures have seen a surge in the past six months.
A consortium of 34 banks has given the loan
In an Economic Times report, a banker with knowledge of the proposal said, ‘The principal repayment of the company’s loan is due in 2037. His proposal is to release the limit and allow operations to begin so that the loan can be repaid. A consortium of 34 banks provided finance to the Jaypee Group. Although the banks have approved the debt restructuring plan a few years ago, it may not be implemented yet, as ICICI Bank and SB I (SBI) has moved the National Company Law Tribunal to initiate insolvency proceedings against the company.
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Shares of JP Power, JP Associates rose over 150%
Shares of JP Associates and JP Power have risen tremendously in the last 6 months. Shares of JP Associates have gained more than 160% in the last 6 months. Share of Jaypee Associates on May 10, 2023 Rs. Was at 7.36. On 10 November 2023, the shares of the company were Rs. 19.35 has been reached. At the same time, shares of JP Power Ventures have risen more than 155% in the past 6 months. Share of Jaypee Power on May 10, 2023 Rs. was at 5.78. On 10 November 2023, the shares of the company were Rs. 15.15 have been reached. Shares of the company hit a new 52-week high on Friday.
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