Jaypee Infratech, a subsidiary of Jaiprakash Associates recently announced the price band for its upcoming IPO. The company is likely to raise an amount close to Rs. 2,300 crores by diluting anything between 15-20% stake, valuing Jaypee Infratech at over Rs. 12,000 crores.
At the CMP of Rs. 160 per share, Jaiprakash Associates commands a market capitalization of Rs. 34,000 crore. Another listed entity of the company, Jaiprakash Power Ventures has a market capitalization of Rs. 15,000 crore. (Jaiprakash Associates is a conglomerate with businesses like cement, power, hotels, real estate, and EPC amongst others).
According to various sources, the cement business and the EPC business of the company could be worth Rs. 16,000 crores if seen as separate entities. Adding the market value of Jaiprakash Power (76% share) and Jaypee Infratech (99% share) to this, we arrive at a value of Rs. 40,000 crores for the parent company. And...mind you…we still haven’t accounted for the real estate, hotels and few other businesses of Jaiprakash Associates.
No wonder, the counter is witnessing huge volumes on both the bourses.
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