Adani Group's Bid for Jaiprakash Associates Receives NCLT Approval, Stocks Surge

Adani Enterprises Acquires Jaiprakash Associates Ltd

Market Update Shares of Adani Enterprises rose 2.2% on March 18, a day after the National Company Law Tribunal (NCLT) approved Adani Enterprises Ltd's Rs 14,535-crore bid to acquire Jaiprakash Associates Ltd through the insolvency process. Jaiprakash Power Ventures were trading 8% higher at Rs 15.14 apiece.

Background Jaiprakash Associates Ltd (JAL) informed through a regulatory filing that the NCLT, Allahabad bench, orally pronounced an order on March 17, 2026, approving the resolution plan submitted by Adani Enterprises Ltd. The Committee of Creditors (CoC) approved the resolution plan in November 2025, with Gautam Adani's business conglomerate outbidding Vedanta and Dalmia Bharat to win the bid for JAL.

Financial Details The CoC of JAL, a company undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016 (IBC), approved the resolution plan submitted by Adani Enterprises Limited (AEL). Adani Enterprises secured 89% votes from creditors, followed by Dalmia Cement (Bharat) and Vedanta Group.

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Asset Portfolio Jaiprakash Associates Ltd has a diverse portfolio of assets, including:

• High-quality real estate projects like Jaypee Greens in Greater Noida and the Jaypee International Sports City near the upcoming Jewar International Airport
• Commercial/industrial office spaces in Delhi-NCR
• Hotel division with five properties in Delhi-NCR, Mussoorie, and Agra
• Four cement plants in Madhya Pradesh and Uttar Pradesh
• Leased limestone mines in Madhya Pradesh
• Investments in subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, and Jaypee Infrastructure Development Ltd

Market Performance At 9:50 am on March 18, Adani Enterprises shares were trading 2.2% higher at Rs 2,109 apiece.