Mukesh Ambani-led Reliance Industries (RIL) is planning to get into no-frills, low-cost housing. The proposal, though on the drawing board, could be kicked off by 2010  

According to a company official, RIL, country’s largest private sector company, is planning large projects and at multiple locations. The official said that the company, owing to its deep pockets and excellent execution skills, it can handle large projects.

The company holds a land bank of 5,000 hectares in Haryana through Reliance Ventures, a subsidiary of RIL created by forming a joint venture with Haryana State Industrial Investment Development Corporation and over 4,840 hectares in Navi Mumbai.

Jaypee to raise Rs 1,500 crore through infra arm IPO

Infrastructure giant, Jaiprakash Associates, is planning to mop up Rs 1,500 crore from the primary market by an initial share sale of its arm Jaypee Infratech.

Manoj Gaur, company’s executive chairman, said, “We are looking to raise Rs 1,500 crore by offloading five per cent stake in Jaypee Infratech,” However, the company is yet to finalise the price band for the initial public offer (IPO) of six crore equity shares. “We are looking to complete the listing of Jaypee Infratech by the end of this fiscal,” Gaur added.

The board of the group has approved sale of six crore shares, amounting to nearly five per cent of its holding in subsidiary Jaypee Infratech (JIL), which is constructing 165-km Yamuna Expressway connecting Greater Noida and Agra.

Lodha allocates Rs 6,000 crore in existing projects

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