Jaypee Infratech plans to raise Rs 500 cr via NCD issue

Jaypee Infratech, a Noida based an infrastructure development company has planned to raise Rs 500 crores via its public issue of 25,00,000 Secured Redeemable Non-Convertible Debentures of face value of Rs 1,000 each, for an amount aggregating upto Rs 250 crores with an option to retain over-subscription upto Rs 250 crores.

The company is engaged in the operation and maintenance of the Yamuna Expressway and the development of five integrated townships along the Yamuna Expressway on a buildoperate-transfer basis.

Fund raised through this issue will be utilised towards

1. Expenses of civil works on the land parcel at Noida (for residential and commercial projects) in accordance with the relevant master plan approved by NOIDA dated March 23, 2011.2. For creation of the debt service reserve account and/or servicing of debt.3. For General Corporate Purposes.

The NCD issue have been rated "BWR A (SO) (Outlook: Stable)" by Brickwork Ratings India Private Limited for an amount of upto Rs 500 crores. The NCDs offered through the Draft Prospectus are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited, (NSE).

ICICI Securities Limited and A. K. Capital Services Limited are the appointed book running lead managers to the issue however, Karvy Computershare Private Limited will be the registrar to the issue.