JP Power Shares Surge Up to 20% Following Adani Power Acquisition

Adani Power Acquires 24 Percent Stake in Jaiprakash Power Ventures

Jaiprakash Power Ventures shares surged 20 percent on Wednesday, hitting the upper circuit limit of Rs 22.95 per share on the National Stock Exchange (NSE).

The surge comes after Adani Power acquired a 24 percent stake in the company through a Share Sale and Purchase Agreement signed between Jaiprakash Associates Ltd (JAL) and Adani Power Ltd (APL). The consideration for the transaction stands at nearly Rs 2,993.6 crore.

According to the agreement, the consideration for the 24 percent stake in Jaiprakash Power Ventures Ltd (JPVL) is Rs 2,993.60 crore, while the consideration for the 180 MW thermal power plant of JAL located in Churk and related assets, including 11.49 percent shares of Prayagraj Power Generation Company Ltd held by JAL, is Rs 1,200 crore.

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This acquisition is part of the implementation of the approved resolution plan for Jaiprakash Associates Ltd, which was approved by the National Company Law Tribunal (NCLT). Adani Power had expressed in-principle interest in becoming one of the implementing entities under the resolution plan on March 19, 2026.

Jaiprakash Power Ventures is a company engaged in thermal and hydro power generation, and also has interests in coal mining, sand mining, and cement grinding. The company operates three power plants with a total capacity of 2,220 MW, along with a 2 MTPA cement grinding unit and a 3.92 MTPA coal mine.

Comparison of Transaction Values

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Note: The total consideration of Rs 4,193.59 crore was mentioned in a previous statement by Adani Power, which included the acquisition of certain thermal assets from Jaiprakash Associates.