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Research
JP Associates to sell 2.78cr shares of Jaypee Infratech - Angel Broking
Posted On : 2013-01-22 21:31:07( TIMEZONE : IST )
Jaiprakash Associates has proposed to sell 2,78,64,584 equity shares of face value of Rs.10 each of Jaypee Infratech Ltd on January 24, 2013 through a sale on the separate window provided by the stock exchanges for this purpose. If the offer is fully subscribed at the current market price of Rs.53.15 of Jaypee Infratech, the company will be able to raise ~Rs.148cr. Further, the company has also kept the option of selling up to 70,619,430 additional shares of Jaypee Infratech.
We continue to maintain our Accumulate rating on the stock with a target price of Rs.100.
