Latest news with #JaiprakashAssociates
&w=3840&q=100)
Business Standard
30-07-2025
- Business
- Business Standard
Lenders look to sell Jaiprakash Power's convertible shares in open market
ICICI Bank is in talks with power companies to facilitate sale of bankrupt company's unit Ruchika Chitravanshi Dev Chatterjee New Delhi/Mumbai Listen to This Article ICICI Bank and other Indian lenders seek to offload their stakes in the power business of bankrupt Jaiprakash Associates by selling in the open market compulsory convertible preference shares (CCPS) that have a face value of Rs 3,800 crore. ICICI Bank is in talks with power companies to facilitate the sale, according to a banking source familiar with the matter. Jaiprakash Associates Ltd (JAL), which is undergoing bankruptcy proceedings, owns 24 per cent in Jaiprakash Power Ventures. "Lenders are looking to sell the CCPS on behalf of all banks and this process has been underway for a while," said the
India.com
23-07-2025
- Business
- India.com
Masterstroke by Gautam Adani, plans to acquire THIS giant company, Cement plant, hotel, power, real estate will be..., sought CCI approval for...
Gautam Adani's Big Move, this company of Adani Group allots 1.08 crore shares to…, raises Rs 12090000000 by… New Delhi: The Gautam Adani-led Adani Group is working relentlessly to expand its business. The country's third-largest industrial conglomerate is reportedly preparing to acquire the debt-ridden company Jaiprakash Associates Limited (JAL). The group has submitted an unconditional bid for the acquisition and has sought approval for the deal from the Competition Commission of India (CCI). It is important to note that Jaiprakash Associates Limited has a debt of over Rs 50,000 crore. Jaiprakash Associates Limited is currently undergoing the Corporate Insolvency Resolution Process (CIRP), as it has been unable to repay its debt. As per the information submitted to the CCI, the Adani Group intends to purchase 100 percent of the shares of the company. The acquisition will be carried out either by the group's flagship company, Adani Enterprises Limited, or Adani Infrastructure and Developers Private Limited. Jaiprakash Associates is a major infrastructure company that operates in sectors such as engineering, construction, cement, power, real estate, and hospitality. Here are some of the key details: Adani Enterprises, Adani Infrastructure and Developers, and Jaiprakash Associates have informed the CCI that this deal will not have any adverse impact on market competition. Dalmia Cement (Bharat) Limited also sought approval from CCI to acquire Jaiprakash Associates last month. Dalmia Cement aims to acquire the entire stake of Jaiprakash Associates The deal includes its assets as well as its stakes in subsidiaries and joint ventures. Earlier, the lenders of Jaiprakash Associates had rejected a proposal from JP Infratech, in which it had expressed interest in acquiring Jaiprakash Associates. Five companies — Adani Enterprises, Vedanta Group, Dalmia Bharat Cement, Jindal Power, and PNC Infratech — have submitted their plans to acquire Jaiprakash Associates. Jaiprakash Associates and the debt: Following an order by the National Company Law Tribunal (NCLT), Allahabad Bench, Jaiprakash Associates was admitted into insolvency proceedings on June 3, 2024. The main reason why the company was taken into insolvency because it failed to repay its debts. Jaiprakash Associates has a total debt of Rs 57,185 crore. The National Asset Reconstruction Company Limited (NARCL) is the top creditor. NARCL purchased the company's debt from a group of lenders led by the State Bank of India (SBI). Jaiprakash Associates Jaiprakash Associates has major real estate projects such as JP Greens in Greater Noida, JP Greens Wish Town in Noida, and JP International Sports City near the Jewar International Airport. In addition, the company owns three commercial/industrial office spaces in Delhi-NCR. In the hospitality sector, it operates five hotels in Delhi-NCR, Mussoorie, and Agra.
Mint
15-07-2025
- Business
- Mint
JP Power share price rallies 46% in just 7 sessions, 117% from May lows. Here's what's driving the surge
Jaiprakash Power Ventures has witnessed a remarkable surge in its share price in recent sessions, driven by heightened demand on Dalal Street driven by heightened demand on Dalal Street after media reports claimed that the Adani Group had emerged as the leading bidder to acquire Jaiprakash Associates, which holds a 24% stake in Jaiprakash Power Ventures. Over the last seven trading sessions, the stock has climbed from ₹ 18.67 to a previous close of ₹ 27.23, marking a sharp gain of 46%. Notably, the stock has remained in the spotlight even as the broader Indian stock market continues to struggle in finding momentum. The stock has staged a strong comeback after hitting a one-year low of ₹ 12.52 in early May, with recent momentum pushing the total rally since then to 117.5%. Jaiprakash Associates (JAL), which has diversified business interests in real estate, cement manufacturing, hospitality, and engineering & construction, was admitted into the Corporate Insolvency Resolution Process (CIRP) by an order from the National Company Law Tribunal (NCLT), Allahabad Bench, dated June 3, 2024. JAL was taken to insolvency proceedings after defaulting on loan repayments, with creditors claiming dues amounting to ₹ 57,185 crore. The National Asset Reconstruction Company Ltd. (NARCL) leads the list of claimants, having acquired JAL's stressed loans from a consortium of lenders led by the State Bank of India (SBI). In late June, five companies, including billionaire Gautam Adani's Adani Enterprises, mining baron Anil Agarwal's Vedanta, Dalmia Bharat Cement and Mumbai-based Suraksha Group—which had earlier acquired Jaypee Infratech—expressed interest in acquiring Jaiprakash Associates, the flagship company of the Jaypee Group. However, recent media reports indicate that the Adani Group has emerged as the only bidder to submit an unconditional offer, proposing a ₹ 12,600 crore deal under the ongoing insolvency process. Jaiprakash Associates owns three commercial and industrial office spaces in the Delhi-NCR region. Its hospitality division operates five properties located in Delhi-NCR, Mussoorie, and Agra. It also holds four cement plants in Madhya Pradesh and Uttar Pradesh, along with a few leased limestone mines in Madhya Pradesh—though the cement plants are currently non-operational. Additionally, JAL has investments in several subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd, and other group entities. After facing substantial selling pressure, the stock gained momentum in June 2023. It maintained a steady uptrend in the following months until October 2024, before experiencing another round of selling amid weakness in the broader market. However, it later regained strength in March 2025 and has sustained that momentum since. Over the last two years, it gained 400% and in the last five years, it surged 1260%. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Economic Times
15-07-2025
- Business
- Economic Times
JP Power shares slip 5%, halting 3-day rally that added 22%
Shares of Jaiprakash Power Ventures Ltd (JP Power) declined on Tuesday, snapping a sharp three-session rally that saw the stock gain 21.7%. The stock fell as much as 4.9% to Rs 25.88 on the BSE, as traders booked profits following a recent surge driven by optimism around group-level developments. ADVERTISEMENT The decline follows a sharp three-day upswing, fuelled by heavy volumes and renewed investor interest. On Monday, JP Power rose 4.7% to Rs 24.75, extending a rally that had seen the stock hit a new 52-week high of Rs 24.86 on Friday. Technical indicators also point to a potential cooldown. The stock has been trading above all key simple moving averages, from the 5-day to 200-day marks, while the Relative Strength Index (RSI) has touched an elevated 89.8, a level widely seen as overbought. The Moving Average Convergence Divergence (MACD) remained positive at 2.1, reinforcing near-term bullishness, but analysts had warned of the likelihood of a pullback. The recent rally was partly driven by reports that the Adani Group had submitted a bid to acquire the debt-laden Jaiprakash Associates, a compnay linked to JP Power via a corporate guarantee on a $150 million external commercial borrowing, which was later converted into a rupee loan. ADVERTISEMENT Jaiprakash Associates is undergoing insolvency proceedings and has reportedly drawn interest from six bidders: Adani, Vedanta, JSPL, Suraksha Group, Dalmia Bharat and PNC Infratech. The proposals are believed to be for acquiring the company in full, raising hopes of clarity on liabilities that could benefit JP read | HCLTech shares in focus after Q1 profit drops 10% YoY to Rs 3,843 crore ADVERTISEMENT Kunal Kamble, Sr. Technical Research Analyst at Bonanza Portfolio, had earlier said that JP Power has broken out of a 17-month consolidation zone, supported by rising volume that reflects increased buyer had noted that the stock is nearing a crucial resistance at Rs 24, and a decisive close above this level could unlock stronger upside momentum. ADVERTISEMENT 'The stock's position above key exponential moving averages reflects bullish sentiment, with the recovering monthly RSI indicating renewed strength,' Kamble added, pointing to strong accumulation. He projected fresh entry potential above Rs 24, with a stop-loss at Rs 17, and sees possible medium-term upside to Rs 38–45 if momentum Tuesday's decline, the stock remains up 42.5% in 2025 so far and has delivered a 1364% return over the past five years. The stock is up 46% in 2025 so far. Also read | JP Power shares rally 7% in one week. Should you buy, sell or hold? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Bloomberg
11-07-2025
- Business
- Bloomberg
Adani Nears $1.4 Billion Buyout of Jaiprakash in M&A Comeback
Indian billionaire Gautam Adani's conglomerate is the frontrunner to buy the insolvent Jaiprakash Associates Ltd., setting the stage for his first $1 billion-plus acquisition since a short seller attack in 2023 and a US bribery probe last year. Adani Group leads the race among bidders to acquire the infrastructure developer with an unconditional bid of at least 120 billion rupees ($1.4 billion), according to people familiar with the bidding process who did not want to be named as the details are private.
