Jaiprakash Associates has launched its qualified institutional placement (QIP) issue on July 2, 2014 to raise up to $250 million. The company will use the proceeds to trim its debt of Rs 61,100 crore.
Jaypee Group is the country’s third largest cement maker. Swiss major Holcim owns majority stake in both ACC and Ambuja Cement with a combined capacity of around 52 mtpa in India.