Jaiprakash Associates reaches settlement

New Delhi: With a view to give thrust to the ongoing efforts to reduce its debt, Jaiprakash Associates, along with Trusts holding 18.93 crore equity shares of the company have entered into a Settlement Agreement with ICICI Bank (Lender) to transfer the said shares to Lender. “The value/consideration of the said shares shall be arrived on the basis of the closing price at National Stock Exchange of India Limited on the day prior to the day of actual transfer of shares to the demat account of the Lender,” the company said.