JP Associates to sell 2.78 cr shares of Jaypee Infratech

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SummaryInfrastructure major Jaiprakash Associates today said it will sell over 2.78 crore shares of the group firm, Jaypee Infratech, through auction route on Thursday.

Infrastructure major Jaiprakash Associates today said it will sell over 2.78 crore shares of the group firm, Jaypee Infratech, through auction route on Thursday.

At today's closing price of Rs 53.15 of Jaypee Infratech on the BSE, Jaiprakash Associates will raise up to Rs 148 crore, if the offer is fully subscribed.

"...proposes to sell an aggregate of 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...," the company said in a filing to the BSE.

JP Associates has also kept the option of selling up to 70,619,430 additional shares of Jaypee Infratech, it added.

The shares sale, which will happen via offer for sale route, will open at 9:15 am and close at 3:30 pm through a special window provided by both, the BSE and the National Stock Exchange, it further said.

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