Jaiprakash Associates (JPA), the Jaypee Group flagship, plans to dilute upto 26 per cent stake in its cement business, the third largest in the country. The company has hired a few investment bank-ers to advise on any strategic stake sale. Preliminary talks have already begun with large South America conglomera-tes; these include Cemex and Votorantim Group, who have a global presence but are also looking at a bigger India play. A deal, if any, may still take some time to fructify. Jaypee Cement, with a current capacity of 23 mtpa is targeting 35.9 mpta by 2011-12.
Contact: Jaiprakash Associates.
Tel: 0120-460 9000.
Fax: 0120-460 9464.
E-mail: jaypee@jalindia.co.in
Website: www.jalindia.com
