Jaypee Infratech IPO
Jaypee Infratech IPO — date, price band, lot size & details 2010
Jaypee Infratech listed on 21 May 2010 at ₹98, 3.9% below the ₹102 issue price.
Jaypee Infratech is a Jaypee Group company set up to build and run the 165 km Yamuna Expressway from Noida to Agra and develop land along it. Its total income was Rs 556.26 crore in FY2009.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 29 Apr 2010
- Close 04 May 2010
- Allotment 14 May 2010
- Refund/credit TBA
- Listing 21 May 2010
Issue summary
The terms of the offer, as filed.
| IPO Dates | 29 Apr to 4 May, 2010 |
|---|---|
| Price Band | ₹102 – ₹117 |
| Face Value | ₹10 |
| Lot Size | 50 Shares |
| Issue Size | ₹2257.61 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 5,100 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 50 shares at the ₹102 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 50 | ₹5,100 |
| Retail (max) | 39 | 1,950 | ₹1,98,900 |
| S-HNI (min) | 40 | 2,000 | ₹2,04,000 |
| S-HNI (max) | 196 | 9,800 | ₹9,99,600 |
| B-HNI (min) | 197 | 9,850 | ₹10,04,700 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It held the rights to the 165 km Yamuna Expressway from Noida to Agra.
- 02Profit after tax was Rs 398.85 crore in the nine months to 31 December 2009, up from Rs 266.73 crore in FY2009.
- 03Net worth was Rs 1,904.21 crore on 31 December 2009.
- 04Rs 1,500.00 crore of the issue went to funding the expressway.
Risks · 5
- 01Total borrowing jumped from Rs 199.99 crore in FY2008 to Rs 4,200.00 crore on 31 December 2009.
- 02Its income was only Rs 0.77 crore in FY2008, so it had a short operating record.
- 03Profits depend on real estate sales along the expressway and on toll traffic once it opens; total assets were Rs 7,265.73 crore.
- 04The issue was priced at Rs 102, the bottom of its price band.
- 05Jaiprakash Associates held 99.1% before the issue and 83.05% after it, and sold shares in the offer for sale.
Three years of numbers
All figures in ₹ crore, as reported in the Jaypee Infratech offer document.
| Metric | 31 Dec 2009 | 31 Mar 2009 | 31 Mar 2008 |
|---|---|---|---|
| Assets | 7,265.73 | 3,611.81 | 1,678.96 |
| Total Income | 533.02 | 556.26 | 0.77 |
| Profit After Tax | 398.85 | 266.73 | -11.37 |
| NET Worth | 1,904.21 | 1,245.36 | 953.63 |
| Total Borrowing | 4,200.00 | 1,867.54 | 199.99 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Jaypee Infratech RHP.
Where the money goes
₹1,570.70 Cr of the issue is earmarked to named objects.
About the company
It is a special purpose company of the Jaypee Group set up to develop, operate and maintain the Yamuna Expressway in Uttar Pradesh, connecting Noida and Agra.
The Yamuna Expressway is a 165 km access controlled six lane concrete expressway along the Yamuna river, which can be widened to eight lanes. The company also develops real estate on land parcels linked to the project.
The IPO was Rs 2,257.61 crore, with Rs 1,650.00 crore of fresh issue and Rs 607.61 crore of offer for sale by Jaiprakash Associates, priced at Rs 102, the bottom of the Rs 102 to Rs 117 band. The fresh money was mainly to part finance the expressway.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Jaypee Infratech IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
260 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
221 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Bofa Securities India Limited
64 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Morgan Stanley India Co. Pvt. Ltd
36 issues handledBest listing: Nykaa (+79.4%). Weakest: KSK Energy Ventures (-12.5%).
Axis Bank Ltd
9 issues handledBest listing: KNR Constructions (+23.5%). Weakest: Innoventive Industries (-4.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Jaypee Infratech?
The current Grey Market Premium is ₹0.
What is the Jaypee Infratech IPO price band?
₹102 to ₹117, on a face value of ₹10.
When is the allotment?
The basis of allotment is 14 May 2010, with listing on 21 May 2010.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
