Following Adani Enterprises Ltd emerging as the successful resolution applicant for Jaiprakash Associates Ltd under the Insolvency and Bankruptcy Code (IBC), multiple Adani Group companies have initiated the acquisition of strategic Jaiprakash assets through transactions valued at nearly ₹5,694 crore. The acquisitions span across power generation, logistics infrastructure, and industrial land assets, further strengthening the Adani Group’s presence in key sectors.
Adani Power to Acquire JPVL Stake and Thermal Power Assets
Adani Power announced that it will invest around ₹4,194 crore to acquire significant power sector assets from Jaiprakash Associates Ltd (JAL). As part of the transaction, Adani Power will acquire a 24% stake in Jaiprakash Power Ventures Ltd (JPVL), the 180 MW Churk thermal power plant located in Uttar Pradesh and related power assets, including an 11.49% stake in Prayagraj Power Generation Company Ltd. According to the company’s regulatory filing, the acquisition of the 24% stake in JPVL will cost approximately ₹2,993.59 crore. Meanwhile, the acquisition of the Churk thermal power plant and associated assets will involve an additional investment of around ₹1,200 crore. Together, the total transaction value stands at nearly ₹4,194 crore.
APSEZ Acquires Fertilizer and Industrial Land Assets
Adani Ports and Special Economic Zone Ltd (APSEZ) has signed a share purchase agreement with Jaiprakash Associates Ltd to acquire 100% shareholding in Jaypee Fertilizers & Industries Ltd (JFIL) for ₹1,500 crore. JFIL is the holding company of Kanpur Fertilizers and Chemicals Ltd (KFCL), which owns nearly 243 acres of industrial and commercial land in Kanpur. APSEZ stated that the acquisition would significantly strengthen the company’s inland logistics capabilities and service network in North India.
Acquisition Supports APSEZ’s Logistics Growth Strategy
According to APSEZ, the acquisition aligns with its long-term strategy to expand its Multi-Modal Logistics Park (MMLP) network from 12 to 16 facilities while increasing warehousing capacity nearly fourfold by 2031. The company also noted that JFIL operates in the fertilizer and chemicals business directly and through its subsidiaries, including Jaypee Uttar Bharat Vikas Private Ltd (wholly owned subsidiary), Kanpur Fertilizers and Chemicals Ltd (step-down subsidiary). As reported by thehindubusinessline.com, the acquisition is expected to enhance APSEZ’s integrated logistics infrastructure while unlocking strategic land and warehousing opportunities in North India.
