Jaiprakash Power Ventures, a part of the Jaypee Group, plans to raise up to Rs 3,500 crore to fund its expansion projects and also to enter cement business sector. The company board has approved raising of funds through various domestic / international options, including QIP / ECB with conversion into shares/ FCCBs/ ADRs/ GDRs/ FPO/ Optionally or Compulsorily Convertible Redeemable Preference Shares, etc. The funds will be utilised for the company’s ongoing projects.

The company also plans to enter into cement manufacturing by setting up cement grinding units at Nigrie and Bina to optimally utilise fly ash to be generated by its thermal power plants located there.