Author Topic: Jaypee Infratech Valuation and IPO ?  (Read 3506 times)

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chetan

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Jaypee Infratech Valuation and IPO ?
« on: November 17, 2009, 10:17:10 PM »
This is a Buzz / Whisper on the Street.

Jaiprakash Associates has mandated Citibank to divest 5% of Jaypee Infratech at a pre IPO valuation of Rs 22K crores!!!. This will vault to the top league of infrastructure/ real estate company in India.

JPM, Enam and Citi are angling for a IPO mandate of 15% flotation by March10 at similar valuation. Jaiprakash Associates Mcap is Rs 33k crs and it holds almost 95% in Jaypee Infratech now.
 
Jaypee Infratech Ltd is a subsidiary of Jaiprakash Associates Ltd to develop, construct and operate a 165 km six lane toll expressway (Taj Expressway) between NOIDA and AGRA. It has entailed a Land for development rights of 25 million sq. meters equivalent to 2500 hectares of land along the proposed Taj Expressway for commercial, amusement, industrial, institutional and residential development at five or more locations along the expressway.

It is not clear as to where would be the other monster project  ‘Ganga Corridor roadway’ be housed… bets are on that it will ultimately be a subsidiary of Jaypee infratech. The monetisable land bank available to the company is estimated to be 125mn sqft in the initial phase.