Jaypee Infra IPO subscribed 69 pc

The initial public offer (IPO) of Jaypee Infratech has received good response from investors and got subscribed 69 per cent in the first three hours of its opening today.

The IPO received bids for 15.23 crore equities as against 22.17 crore shares on offer for public,getting subscribed 69 per cent,data till 1300 hrs with the National Stock Exchange shows.

Jaypee Infratech has come out with a public issue in the price range of Rs 102 to Rs 117. The IPO closes on May 4.

Story continues below this ad

Through this public issue,the company hopes to raise Rs 2,262 core and Rs 2,352 crore as per the lower and the upper end of the price band,respectively.

However,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.

Morgan Stanley India Company,DSP Merrill Lynch,Axis Bank,Enam Securities,ICICI Securities,IDFC Capital,JM Financial Consultants,Kotak Mahindra Capital Company and SBI Capital Markets are book running lead managers to the issue.

Tags:
IPO
JAL

Hamas under pressure to respond to Gaza peace plan as Trump says will give ‘three or four days’

Trump gives Hamas 3-4 days to accept Gaza peace plan, with a warning

11 hr ago

US President Donald Trump has given a tight deadline to Hamas for accepting his Gaza peace plan, warning of a “sad end” if if they refuse to accept the conditions. Palestinian militant group Hamas is yet undecided on whether to accept the peace deal proposed by US President Donald Trump on Monday.

View all shorts

Live Blog

PHOTOS