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Jaiprakash Power up 5% on buzz of power units' sale talks

Jaiprakash Power up 5% on buzz of power units' sale talks

Wednesday, March 8, 2017, 3:03 PM

Jaiprakash Power gained over 5% intraday as the company is in talks with the Canada-based asset manager for sale of its power plants. Brookfield was involved in initial stage talks with the power company to sell these plants of 4,000 MW. The deal could prescribe equity value at Rs 4,500-5,000 crore. It could help Jaiprash Power pare its whopping debt of Rs 12000 crore.
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