Jaypee Infratech IPO fully subscribed
The initial public offer of Jaypee Infratech, a subsidiary of Jaiprakash Associates, has been subscribed 1.2 times, as per data available on the NSE website.
Issue, which closed today, has received bids for 26.67 crore equity shares as against 22.17 crore shares on offer for public and maximum bids have been received at around Rs 102 and 103 per share.
Till May 03, only qualified institutional investors’ reserved portion was subscribed 1.63 times while others remained undersubscribed.
The price band for the issue was at Rs 102 to Rs 117. Through this public issue, the company is aiming to raise Rs 2,262 crore and Rs 2,352 crore at the lower and the upper end of the price band, respectively.
Jaypee Infratech will receive Rs 1,650 crore out of the total proceeds and the balance will go to the holding company — JP Associates Ltd (JAL).
Jaypee Infratech, which is a part of the Jaypee group, was incorporated in 2007 and is engaged in the development of the Yamuna Expressway and related real estate projects. The 165 km long 6-lane Yamuna Expressway will connect Noida and Agra in Uttar Pradesh.
Source: Moneycontrol
