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Jan 25 2013, 00:08 IST
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SummaryEngineering and construction company Jaiprakash Associates has deferred a planned sale of shares in its unit, Jaypee Infratech, after share prices of the subsidiary fell 8.5% on Wednesday, the parent company said.

Jaiprakash defers share sale in Jaypee Infratech

Engineering and construction company Jaiprakash Associates has deferred a planned sale of shares in its unit, Jaypee Infratech, after share prices of the subsidiary fell 8.5% on Wednesday, the parent company said. “In view of an unusual fall in the share price of Jaypee Infratech... Jaiprakash Associates has decided to defer the offer for sale,” the company said. Jaiprakash Infratech planned to sell 98.5 million shares to raise up to $94 million to meet Sebi’s guidelines on minimum public shareholding.

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