Jaypee Group

Indian diversified conglomerate

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Engineering
Construction
Power
Fertilizer
Hospitality
Healthcare
Real Estate
Expressways
Information Technology

Revenue

₹6,612.88 crore (US$830 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 Infratech Limited (JIL)
Jaypee Ganga Infrastructure Corporation Limited (JGICL)
Himalayan Expressway Ltd
JPSK Sports Pvt Ltd

^[2]Websitewww.jalindia.com

Jaiprakash Associates Limited, commonly known as Jaypee Group, is an Indian conglomerate company headquartered in Noida, Uttar Pradesh, with interests in engineering, construction, power, real estate, hospitality, IT, sports and education (non-profit).^[3]

Overview

Manoj Gaur is the elder son of Jaiprakash Gaur. He is the Chairman of the Jaiprakash Associates Limited. Jaypee is cement production and private sector hydropower company with 1,700 MW in operation.^[4] The Jaypee Group successfully completed projects in 18 states of India and Bhutan. Jaypee is the engineering and construction company for India's Yamuna 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's National 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

Jaiprakash Gaur founded the conglomerate in 1979. After acquiring a Diploma in Civil Engineering in 1950 from the now called Indian Institute of Technology Roorkee (IITR) in Roorkee, Uttarakhand, he had a stint with the Government of Uttar Pradesh. Later he became an entrepreneur, 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 Energy acquired two hydropower Projects of Jaiprakash Associates in a deal worth ₹ 9,700 crore.^[7]
2017 - UltraTech Cement completed 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 Bharat signed a binding agreement to acquire Jaiprakash Associates’ cement, clinker and power plants at an enterprise value of Rs 5,666 crore.^[11]^[12]

Controversies

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 Tribunal had 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 include Dimensional Fund Advisors and WisdomTree.^[17]

References

^ Sanjeev Choudhary (25 March 2009). "Jaypee Group keeps head above water". The Economic Times. Retrieved 24 September 2010.
^ "Jaypee Group | Corporate-Subsidiaries". Jalindia.com. Archived from the original on 18 August 2010. Retrieved 24 September 2010.
^ "Jaiprakash Associates Management Information - Details of Jaiprakash Associates Management". The Economic Times. Retrieved 14 March 2024.
^ "Lenders review Jaypee Group's debt". The Economic Times. 13 October 2014. ISSN 0013-0389. Retrieved 14 March 2024.
^ Sharma, Ravi Teja (9 August 2012). "Yamuna Expressway opening is Jaypee's free ride to Lucknow". The Economic Times. ISSN 0013-0389. Retrieved 14 March 2024.
^ "Shree Cement-JP Associates' Rs. 360 Cr Deal". Bloomberg TV India. 26 August 2014.
^ "Reliance Power shares up on Jaiprakash hydro-power Deal". news.biharprabha.com. Indo-Asian News Service. 28 July 2014. Retrieved 28 July 2014.
^ "UltraTech completes acquisition of Jaiprakash group cement business". The Economic Times. Retrieved 11 October 2022.
^ "Mangdechhu Hydroelectric Project, Bhutan". Power Technology. Retrieved 11 October 2022.
^ "History". jalindia.com. Retrieved 11 October 2022.
^ Sreedhar, Vidya (12 December 2022). "Dalmia Bharat to acquire Jaypee Group's cement assets for Rs 5,666 crore". The Economic Times. ISSN 0013-0389. Retrieved 25 February 2023.
^ "Dalmia inks Rs 5,666-crore deal for Jaypee assets; To buy cement, clinker power units". Financialexpress. Retrieved 25 February 2023.
^ www.ETRealty.com. "SC bars Jaypee promoters, directors from selling personal assets - ET RealEstate". ETRealty.com. Retrieved 11 October 2022.
^ "Letter to fixed deposit holders" (PDF). Jalindia.com. Retrieved 20 February 2017.
^ "NCLT order" (PDF). Retrieved 20 February 2017.
^ "SFIO to probe Jaiprakash Associates, Jaypee Infratech for financial irregularities". The New Indian Express. Retrieved 27 October 2020.
^ "Jaiprakash Power Ventures Institutional Ownership". Fintel. Retrieved 23 February 2022.