Jaypee Infratech, a subsidiary of Jaiprakash Associate is offering its IPO. The company is looking forward to raise Rs. 23.5 billion (US$530 billion) through IPO. The offering will be closed on May 4, 2010. The price ranges from Rs.102 to Rs.117 per share.
Jaypee Infratech Limited (JIL) is an Indian infrastructure development company. It is currently involved in developing the Yamuna Expressway and other real estate projects. It is a subsidiary of Jaypee Group and was incorporated on April 5, 2007. A special purpose company, the Jaypee Infratech Limited (JIL) will develop, operate and maintain the Yamuna Expressway located in the state of Uttar Pradesh connecting Noida and Agra. It is a 165 kilometer “access-controlled six-lane concrete pavement expressway” running along the Yamuna river. It has the potential to be widened to an eight-lane expressway. JIL also has the right to develop 25 million square meters of land along Yamuna Express way at five locations for residential, commercial, amusement, industrial and institutional purpose.
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I can think of 10 equivalent or better listed stocks in the Indian markets. Anyway investing on the basis of future revs looks like gambling.Plus who knows how the proect will turn out once BSP gets out of power
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