Shares of Jaiprakash Power Ventures (JP Power) zoomed 3% on Tuesday December 2, after the stock witnessed a sharp fall last week. The stock has been in focus amid reports that Adani Group will likely pip metal and mining major Vedanta to acquire bankrupt infrastructure firm Jaiprakash Associates (JAL). Experts have predicted that acquisition by a well-managed and financially strong Adani group not only bodes well for JAL but also for JP Power, wherein JP Associates holds a 24% stake. The shares of the company had surged in the previous sessions after Adani Group Chairman Gautam Adani won the approval of creditors of Jaiprakash Associates (JAL) for its ₹14,535-crore acquisition proposal for the bankrupt infrastructure group. Adani Enterprises, the flagship firm of Adani Group, outbid Vedanta and Dalmia Bharat to win the bid for JAL .
Adani got the maximum 89% votes from creditors, followed by Dalmia Cement (Bharat) and Vedanta Group. The shares of the company had surged in the previous sessions after Adani Group Chairman Gautam Adani won the approval of creditors of Jaiprakash Associates (JAL) for its ₹14,535-crore acquisition proposal for the bankrupt infrastructure group.
Adani Enterprises, the flagship firm of Adani Group, outbid Vedanta and Dalmia Bharat to win the bid for JAL. "The Committee of Creditors (COC) of Jaiprakash Associates Limited (JAL), a company undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016 (IBC), has approved the Resolution Plan submitted by Adani Enterprises Limited (AEL)," AEL said in a stock exchange filing. Adani got the maximum 89% votes from creditors, followed by Dalmia Cement (Bharat) and Vedanta Group, it added. Without disclosing financial details of the bid, AEL said it has received a Letter of Intent (LOI) from the Resolution Professional (RP) on November 19, 2025. Jaiprakash Associates (JAL), which has high-quality assets and business interests spanning real estate, cement manufacturing, hospitality, power, and engineering and construction, was admitted to the Corporate Insolvency Resolution Process (CIRP) in June last year after it defaulted on payments of loans aggregating ₹57,185 crore.
JAL has major real estate projects like Jaypee Greens in Greater Noida, a part of Jaypee Greens Wishtown in Noida (both on the outskirts of the national capital), and the Jaypee International Sports City, strategically located near the upcoming Jewar International Airport. It also has three commercial or industrial office spaces in Delhi-NCR, while its hotel division has five properties in Delhi-NCR, Mussoorie, and Agra. JAL has four cement plants in Madhya Pradesh and Uttar Pradesh, and a few leased limestone mines in Madhya Pradesh. Furthermore, it has investments in subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd, and several other companies.