JPP reserves 10 pct for shareholders

Jaypee Infratech has reserved 10 per cent of its proposed initial public offer IPO for shareholders of Jaiprakash Power Ventures,of which the company is a subsidiary.

8220;Ten per cent of the issue size have been reserved for allotment to the shareholders of Jaiprakash Power Ventures Ltd,on competitive basis,8221; Jaiprakash Power said in a filing to the Bombay Stock Exchange.

Jaypee Infratech is offering six crore shares for public subscription,the filing said.

For the purpose of shareholders reservation portion,eligible shareholders should have equity shares of Jaiprakash Power Ventures Ltd other than the promoter of face value Rs 10 each as on April 22,2010,the filing added.

The issue program would be announced by Jaypee Infratech Ltd it said.