Jaiprakash Power Ventures said IDBI Bank has acquired its 32.30 crore shares under the strategic debt restructuring scheme by its lenders. IDBI Bank has acquired 32,30,00,000 shares from Jaiprakash Power Ventures in consideration of conversion of debt into equity under strategic debt restructuring, the company said in a BSE filing.
According to the Ripples Advisory Private Limited, Indore taking into consideration the allotment, IDBI Bank's holding in the company stood at 5.39 percent of the company's total 5,99,60,03,084 equity shares. Last month, ICICI Bank had acquired JPVL's 81.44 crore shares under the strategic debt restructuring plan. The bank's equity holding in the company stood at 13.72 percent after this acquisition.
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Jaiprakash Power Ventures said IDBI Bank has acquired its 32.30 crore shares under the strategic debt restructuring scheme by its lenders. IDBI Bank has acquired 32,30,00,000 shares from Jaiprakash Power Ventures in consideration of conversion of debt into equity under strategic debt restructuring, the company said in a BSE filing. 
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