Jaiprakash Power Surges 12% As Adani Wins Approval For Jaiprakash Associates Resolution Plan
Adani Group has clinched the top spot in lender evaluations, emerging as the successful bidder for Jaiprakash Associates.
Shares of Jaiprakash Power Ventures Ltd jumped 12.43% on Thursday after Adani Enterprises announced that its resolution plan for Jaiprakash Associates Ltd (JAL) has been approved by the Committee of Creditors (CoC). JAL, currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, received a Letter of Intent (LoI) from the Resolution Professional on November 19, 2025.
The plan, which aims to revive JAL’s diversified businesses spanning engineering, construction, cement, power, real estate, fertilisers, and hospitality, will be implemented subject to approvals from the National Company Law Tribunal (NCLT), Allahabad Bench, and other regulatory bodies. Adani Enterprises may execute the resolution through its group entities or special purpose vehicles, as outlined in the LoI.
Earlier NDTV Profit reported that the Adani Group was the only party to submit an unconditional and scored highest in lender evaluation.
In early September, mining conglomerate Vedanta Group offered Rs 12,505 crore as net present value (NPV), in an auction carried out by lenders to find suitors for JAL, whose interests span real estate, cement, power, hotels, and road.
Dalmia Cement (Bharat) Ltd, Jindal Power Ltd, and PNC Infratech Ltd did not bid in the auction process. Later, the lenders held negotiations with these five players including Adani Group to enhance the bid value and maximise realisation.
On Oct. 14, these five bidders submitted fresh signed resolution plans in sealed envelopes. JAL, which has business interests spanning real estate, cement manufacturing, hospitality, and engineering & construction, was admitted into the Corporate Insolvency Resolution Process (CIRP) through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024.
The scrip rose as much as 12.43% to Rs 22.79 apiece. It pared gains to trade 9.23% higher at Rs 22.16 apiece, as of 10:39 a.m. This compares to a 0.25% advance in the NSE Nifty 50 Index.
It has risen 33% in the last 12 months. Total traded volume so far in the day stood at 8.5 times its 30-day average. The relative strength index was at 83.29.
