Jaypee Infratech IPO fully subscribed

The initial public offering (IPO) of Jaypee Infratech was fully subscribed on the last day of the issue.

According to the NSE website, as on May 4, till 12 pm, the issue size of 22.17-crore shares received 22.27-crore bids. Around 92.01-lakh bids were made at the cut-off price.

Jaypee Infratech was launched with an initial public offer of 20.1 - 22.2 crore shares. The company has fixed the price band of the issue at Rs102-117 per share and plans to raise between Rs 2,262-2,352 crore.

Of the IPO proceeds from the fresh issue of shares, Rs 1500-crore will be utilised to fund the company’s Yamuna Expressway project.