Jaypee Group

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Jaypee Group
TypePublic
IndustryConglomerate
Founded1979; 44 years ago (1979)[1]
FounderJaiprakash Gaur
HeadquartersNoida, Uttar Pradesh, India
Key people
Jaiprakash Gaur
(Chairman)
Products
RevenueDecrease 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
Tehri Dam India – the largest rock and earth fill dam in Asia, completed by Jaypee

Jaiprakash Associates Limited, commonly known as Jaypee Group, is an Indian conglomerate company based in Noida, Uttar Pradesh, India. It has business interests in engineering, construction, power, cement, real estate, hospitality, IT, sports and education (not-for-profit).

Overview[edit]

Manoj Gaur is the elder son of Jaiprakash Gaur. He is the Chairman of the Jaiprakash Associates Limited. Jaypee is India's first largest cement producer and the largest private sector hydropower company with 1,700 MW in operation. 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.

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[edit]

Jaiprakash Gaur is the founder and was chairman of Jaiprakash Associates Limited. 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, started 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.[3] 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.[4]
  • 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.[5]
  • 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.[6][7]

Controversies[edit]

  • In November 2017, the Supreme Court of India barred the directors from selling their personal assets.[8]
  • Due to debt, Jaiprakash Associates did not pay back its fixed deposit holders on time. [9] The National Company Law Tribunal had extended the deadline to 31 March 2017 to settle the same.[10][11]
  • 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.[12]

References[edit]

  1. ^ Sanjeev Choudhary (25 March 2009). "Jaypee Group keeps head above water". The Economic Times. Retrieved 24 September 2010.
  2. ^ "Jaypee Group | Corporate-Subsidiaries". Jalindia.com. Archived from the original on 18 August 2010. Retrieved 24 September 2010.
  3. ^ "Shree Cement-JP Associates' Rs. 360 Cr Deal". Bloomberg TV India. 26 August 2014.
  4. ^ "Reliance Power shares up on Jaiprakash hydro-power Deal". news.biharprabha.com. Indo-Asian News Service. 28 July 2014. Retrieved 28 July 2014.
  5. ^ "UltraTech completes acquisition of Jaiprakash group cement business". The Economic Times. Retrieved 11 October 2022.
  6. ^ "Mangdechhu Hydroelectric Project, Bhutan". Power Technology. Retrieved 11 October 2022.
  7. ^ "History". jalindia.com. Retrieved 11 October 2022.
  8. ^ www.ETRealty.com. "SC bars Jaypee promoters, directors from selling personal assets - ET RealEstate". ETRealty.com. Retrieved 11 October 2022.
  9. ^ "Letter to fixed deposit holders" (PDF). Jalindia.com. Retrieved 20 February 2017.
  10. ^ "NCLT order" (PDF). Retrieved 20 February 2017.
  11. ^ "SFIO to probe Jaiprakash Associates, Jaypee Infratech for financial irregularities". The New Indian Express. Retrieved 27 October 2020.
  12. ^ "Jaiprakash Power Ventures Institutional Ownership". Fintel. Retrieved 23 February 2022.

External links[edit]