Jaypee Infratech has high hopes from its upcoming public offer. The company is going to tap the capital market on April 29, with the opening of its IPO.

It will end on May 4. The price band of the share is in between Rs. 102 and Rs. 111 per share. Besides this, the shares will be given at 5 per cent discount in case a retail investor buys it.

Through the IPO, the infrastructure development firm wants to raise close to Rs. 2,350 crore or $530 million.

Jaypee has lately grabbed many projects, but the biggest of them is the Yamuna Expressway. As part of this plan it will have to build a 165-km access-controlled six-lane concrete pavement on river Yamuna. Besides this, it will also have to develop a township and five other locations on both sides of the expressway.

The total cost figure for the project is estimated to be $2 billion.

Jaypee Infratech is part of Jaiprakash Associates. The group owns 99.1 per cent stake in the company.

Talking about the project, Manoj Gaur, Chairman, Jaypee Infratech said that the company is betting big on the Yamuna Expressway project. It is going to a challenge for the company since it will be a combination of infrastructure and real estate.