Wikipedia

Jaypee Group

Jaiprakash Associates Limited,commonly known asJaypee Group,is an Indianconglomeratecompany headquartered inNoida,Uttar Pradesh, with interests in engineering, construction, power, real estate, hospitality, IT, sports and education (non-profit).[3]

Jaypee Group
Company typePublic
IndustryConglomerate
Founded1979;45 years ago(1979)[1]
FounderJaiprakash Gaur
HeadquartersNoida,Uttar Pradesh,India
Key people
Jaiprakash Gaur
(Chairman)
Products
RevenueDecrease₹6,612.88 crore(US$790 million) (2021)
Number of employees
6000+ (2021)
Subsidiaries
  • Jaiprakash Power Ventures Limited (JPVL)
  • Jaypee Karcham Hydro Corporation Limited (JKHCL)
  • Jaypee Arunachal Power Limited
  • Bina Power Supply Co. Limited
  • Jaypee Power Grid Ltd (JPL)
  • Bhilai Jaypee Cement Limited (BJCL)
  • Gujarat Jaypee Cement & Infrastructure Limited (GJCIL)
  • Bokaro Jaypee Cement Limited (BOJCL)
  • Madhya Pradesh Jaypee Minerals Limited (MPJML)
  • Jaypee InfratechLimited (JIL)
  • Jaypee Ganga Infrastructure Corporation Limited (JGICL)
  • Himalayan Expressway Ltd
  • JPSK Sports Pvt Ltd
[2]
Websitewww.jalindia
Sardar Sarovar Dam,India
Tehri DamIndia – the largest rock and earth fill dam in Asia, completed by Jaypee

Overview

edit

Manoj Gaur is the elder son of Jaiprakash Gaur. He is the Chairman of the Jaiprakash Associates Limited. Jaypee is cement production and private sectorhydropowercompany with 1,700 MW in operation.[4]The Jaypee Group successfully completed projects in 18 states of India andBhutan.Jaypee is the engineering and construction company for India'sYamuna Expressway,which opened 9 August 2012.[5]

JIL, the group flagship, has an engineering and construction wing which mostly supports Jaypee projects. It also has the largest land bank in India'sNational Capital Region,i.e., New Delhi. Jaypee has two thermal power plants (Bina Thermal Power plant – 500 MW and Nigrie Thermal Power Plant – 2X660 MW).

History

edit

Jaiprakash Gaurfounded the conglomerate in 1979. After acquiring a Diploma inCivil Engineeringin 1950 from the now calledIndian Institute of Technology Roorkee(IITR) inRoorkee,Uttarakhand, he had a stint with theGovernment of Uttar Pradesh.Later he became anentrepreneur,starting as a civil contractor in 1958.

  • 2014 – In August 2014, Shree Cements announced that it is set to acquire Jaiprakash Associates' 1.5 million tonne grinding unit at Panipat for 360 crore.[6]The Jaypee group has been selling most of its cement assets to reduce its debt.
  • 2015- In September 2015,JSW Energyacquired two hydropower Projects of Jaiprakash Associates in a deal worth₹9,700 crore.[7]
  • 2017 –UltraTech Cementcompleted the Rs 16,189 crore acquisition of Jaiprakash Associates' six integrated cement plants and five grinding units, having a capacity of 21.2 million tonnes.[8]
  • 2019 – Commissioning of 720 MW Hydro project (having 114 M high concrete dam and underground powerhouse having 4x180 MW generators) for Mangdechhu Hydro Electric Power Project Authority in Bhutan.[9][10]
  • 2022-Dalmia Bharatsigned a binding agreement to acquire Jaiprakash Associates’ cement, clinker and power plants at an enterprise value of Rs 5,666 crore.[11][12]

Controversies

edit
  • In November 2017, the Supreme Court of India barred the directors from selling their personal assets.[13]
  • Due to debt, Jaiprakash Associates did not pay back its fixed deposit holders on time.[14]The National Company Law Tribunalhad extended the deadline to 31 March 2017 to settle the same.[15][16]
  • As of 2022, the company had attracted the notice of several US-based mutual funds and ETFs, who reported owning significant positions in the company. Investors in the company includeDimensional Fund AdvisorsandWisdomTree.[17]

References

edit
  1. ^Sanjeev Choudhary (25 March 2009)."Jaypee Group keeps head above water".The Economic Times.Retrieved24 September2010.
  2. ^"Jaypee Group | Corporate-Subsidiaries".Jalindia. Archived fromthe originalon 18 August 2010.Retrieved24 September2010.
  3. ^"Jaiprakash Associates Management Information - Details of Jaiprakash Associates Management".The Economic Times.Retrieved14 March2024.
  4. ^"Lenders review Jaypee Group's debt".The Economic Times.13 October 2014.ISSN0013-0389.Retrieved14 March2024.
  5. ^Sharma, Ravi Teja (9 August 2012)."Yamuna Expressway opening is Jaypee's free ride to Lucknow".The Economic Times.ISSN0013-0389.Retrieved14 March2024.
  6. ^"Shree Cement-JP Associates' Rs. 360 Cr Deal".Bloomberg TV India. 26 August 2014. Archived from the original on 26 August 2014.{{cite news}}:CS1 maint: unfit URL (link)
  7. ^"Reliance Power shares up on Jaiprakash hydro-power Deal".news.biharprabha. Indo-Asian News Service. 28 July 2014.Retrieved28 July2014.
  8. ^"UltraTech completes acquisition of Jaiprakash group cement business".The Economic Times.Retrieved11 October2022.
  9. ^"Mangdechhu Hydroelectric Project, Bhutan".Power Technology.Retrieved11 October2022.
  10. ^"History".jalindia.Retrieved11 October2022.
  11. ^Sreedhar, Vidya (12 December 2022)."Dalmia Bharat to acquire Jaypee Group's cement assets for Rs 5,666 crore".The Economic Times.ISSN0013-0389.Retrieved25 February2023.
  12. ^"Dalmia inks Rs 5,666-crore deal for Jaypee assets; To buy cement, clinker power units".Financialexpress.13 December 2022.Retrieved25 February2023.
  13. ^ETRealty."SC bars Jaypee promoters, directors from selling personal assets - ET RealEstate".ETRealty.Retrieved11 October2022.
  14. ^"Letter to fixed deposit holders"(PDF).Jalindia.Retrieved20 February2017.
  15. ^"NCLT order"(PDF).Retrieved20 February2017.
  16. ^"SFIO to probe Jaiprakash Associates, Jaypee Infratech for financial irregularities".The New Indian Express.27 May 2020.Retrieved27 October2020.
  17. ^"Jaiprakash Power Ventures Institutional Ownership".Fintel.Retrieved23 February2022.
edit
Retrieved from "https://en.wikipedia.org/w/index.php?title=Jaypee_Group&oldid=1258137299"