Jaypee Infratech Limited (JIL) IPO : Opening on 29th Apr 2010

by khalid on 25/04/2010 · 0 comments

Jaypee Infratech Ltd. is a fully-owned subsidiary of Jaiprakash Associates. The company has undertaken the development of the 165 kilometre-long Yamuna Expressway, connecting Greater Noida and Agra and development of five integrated townships. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 1650 crores. The IPO is opening on 29th April 2010 and the shares will be available for subscription up to 04th May 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed as Rs 102 at the lower end and Rs 117 at the upper end. A discount of up to 5% is peoposed to Retail Individual Bidders.

The proceeds of the IPO will be used to partially finance the Yamuna Expressway Project and General corporate purposes.

The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Issue Detail:-
Issue Open : 29th April 2010 – 04th May 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : Equity Shares of Rs 10 each
Issue Size : Rs. 1650 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 102 – Rs. 117 Per Equity Share
Market Lot : 50 shares
Minimum Order Quantity : 50 shares
Listing At : BSE, NSE

CARE has assigned a Grade 3/5 to the proposed IPO of Jaypee Infratech Ltd. (JIL). ICRA too has assigned the Grade 3 to this IPO indicating average fundamentals.

Book running lead managers to the issue are Axis Bank Limited, DSP Merrill Lynch Limited, Enam Securities Private Limited, ICICI Securities Limited and Morgan Stanley India Company Pvt Ltd.

Registrar of the Issue is Karvy Computershare Private Limited Hyderabad.

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