Jaiprakash Associates-Vedanta acquisition: Jaiprakash Associates Ltd is expected to remain in the news when the resumes trading activity on Monday. As reported by the news agency PTI on Friday evening, the Vedanta Group has won the bid for the acquisition of troubled business Jaiprakash Associates (JAL), with an offer of ₹17,000 crore, beating out the Adani Group.
The mining conglomerate’s ₹17,000 crore comes as Jaiprakash Associate Limited is undergoing insolvency proceedings after defaulting on loan payments. The bid value translates into Jaiprakash Associate net present value of ₹12,505 crore, PTI added. Jaiprakash Associate Ltd has informed the Indian exchanges that its AGM is scheduled on 29th September 2025.
Vedanta and Adani Groups’ bids came as Jaiprakash Associates Ltd lenders conducted a challenge process for the sale of the company under the IBC, which saw participation from multiple bidders. The Committee of Creditors (CoC) meeting was held on September 5 to conduct the challenge process.
In the end, however, firm bids were placed only by the Adani and Vedanta Group; and Vedanta eventually made a winning bid of ₹17,000 crore, which translated into a NPV (net present value) of ₹12,505 crore, beating Adani Group, sources said.
Financial creditors have claimed a staggering ₹57,185 crore in unpaid dues. The National Asset Reconstruction Company Ltd (NARCL) leads the list of claimants after acquiring the stressed JAL loans from a consortium of lenders headed by the State Bank of India.
Jaiprakash Associates Ltd was admitted to the corporate insolvency resolution process (CIRP) through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024. It was taken to insolvency proceedings after the conglomerate defaulted on the payment of loans.
In April this year, as many as 25 companies showed interest in acquiring Jaiprakash Associates Ltd. However, in June, Jaiprakash Associates Ltd announced that it had received five bids along with earnest money for the acquisition of the company through the insolvency process.
Jaiprakash Associates asset details
Jaiprakash Associates Ltd 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/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. The cement plants, however, are non-operational. It also has investments in subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd, and several other companies.
Jaiprakash Associates share price last traded on 1st September 2025. The penny stock under ₹5 finished 5% lower at ₹3.61 on September 1, 2025.
(With inputs from PTI)
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