Creditors' Call
Adani Enterprises gets Jaiprakash Associates' creditors nod for takeover
This story was originally published at 19:08 IST on 19 November 2025
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AHMEDABAD – Adani Enterprises Ltd. Wednesday said it has received a letter of intent from the resolution professional of Jaiprakash Associates Ltd. that the committee of creditors had approved the resolution plan proposed by Adani Enterprises, the company said in a filing with the stock exchanges.
The key corporates that had bid to take over Jaiprakash Associates included Adani Enterprises, Vedanta group, Dalmia Bharat and and Jindal Power. While the Vedanta group had put in a bid of INR 170 billion, Adani Enterprises had proposed to take over the company for INR 135 billion.
Jaiprakash Associates is engaged in a wide array of businesses, including engineering and construction, cement, power, real estate, fertilisers, and hospitality, including through investments in its subsidiaries and affiliates. Jaiprakash Associates is undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code 2016 due to its indebtedness.
The implementation of the resolution plan is subject to the terms of the LoI and requisite approvals from the National Company Law Tribunal, Allahabad bench, and other regulatory authority, courts, and tribunal, Adani Enterprises said.
For the quarter ended September, Adani Enterprises reported a consolidated net profit of INR 31.99 billion on a revenue of INR 212.49 billion. Wednesday, shares of the company closed 0.2% lower at INR 2,433.10 on the National Stock Exchange. End
Reported by Sunil Raghu
Edited by Vandana Hingorani
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