Apply to Jaypee Infra IPO with medium-long term view: Swastika

MUMBAI: Swastika Intelligence Group has advised investors to apply to the initial public offering of Jaypee Infrastructure with a medium-to-long term view.

“Jaypee Infratech, a subsidiary of Jaiprakash Associates is coming out with an IPO to part finance one of its major project – Yamuna Expressway. We recommend applying to the IPO with a medium to long term view. With infrastructure expense to sequentially grow in the country for next few years, company stands to gain considerable share of such business,” the report said.

Jaypee Infratech has hit the primary market with an IPO of 20.1 - 22.2 crore shares. The company has fixed the price band of the issue at Rs 102-117 per share and plans to raise between Rs 2,262-2,352 crore. The issue closes May 4, 2010.