Jaypee Infratech plans 6 mn shares IPO

Jaiprakash Power Ventures has informed BSE that Jaypee Infratech, a fellow subsidiary company, is proposing a public issue of equity shares of Rs 10 each and an offer for sale of six million equity shares of Rs 10 each held by Jaiprakash Associates, the holding company, through the process of book building. Out of the proposed public issue/offer for sale, 10 per cent of the issue size has been reserved for allotment to the shareholders of Jaiprakash Power Ventures Ltd (JPVL), on competitive basis.

For the purpose of the shareholders reservation portion, eligible shareholders shall mean holder of equity shares of Jaiprakash Power Ventures Ltd (other than the promoter, Jaiprakash Associates) as on the specified date which has been fixed as April 22, 2010 and who are resident in India and physically present in India on the date of submission of bid-cum-application form.

The bid/issue program shall be announced by Jaypee Infratech Ltd, said a company release. The bid-cum-application form shall be dispatched in due course to the eligible shareholders of JPVL whose names appear in the register of member of JPVL on the above mentioned cut off date.