JP Associates to conclude sale of 74% stake in Bhilai Jaypee Cement by year-end

Jaiprakash Associates Ltd. | Engineering - Construction | Construction & Infrastructure | BSE: 532532 | NSE: JPASSOCIAT

01 Sep 2017 Evaluate

Jaiprakash Associates’ (JP Associates) proposed sale of entire 74% stake in Bhilai Jaypee Cement for an enterprise value of Rs 1,450 crore is expected to be concluded by year-end and plans to raise up to Rs 2,000 crore through sale of securities.

To revive its business operations and repay debt, the company has divested a substantial portion of its cement business with a capacity of 17.2 MTPA to Aditya Birla Group firm UltraTech Cement at an enterprise value of Rs 16,189 crore.

Jaiprakash Associates is an India-based diversified infrastructure conglomerate. Its business sectors include engineering and construction; manufacturing and marketing of cement; energy (power and transmission); expressways; real estate, and hospitality.

Peers

Company Name	CMP
Larsen & Toubro	3915.00
Kalpataru Projects	1435.05
NCC	141.00
Rail Vikas Nigam	205.00
KEC International	406.45
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