Mining conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisition of debt-ridden Jaiprakash Associates (JAL) for Rs 17,000 crore, according to sources. The bid value translates into Jaiprakash Associates' net present value of Rs 12,505 crore.
Five companies have submitted resolution plans for Jaiprakash Associates Ltd (JAL), the flagship company of the beleaguered Jaypee group, the company has said in a stock exchange filing. The Adani group, Vedanta, Jindal Steel & Power, Dalmia Bharat, and PSP Projects are the final bidders and the offers range from Rs 10,000 crore to Rs 11,000 crore, said a source close to the development.
Dalmia Bharat Ltd on Monday announced the acquisition of the cement assets of Jaypee Group's flagship company Jaiprakash Associates Ltd and its associate firms at an enterprise value of Rs 5,666 crore. In a regulatory filing, Dalmia Bharat informed that its wholly-owned subsidiary Dalmia Cement Bharat Limited (DCBL) has entered into a "binding framework agreement for the acquisition of clinker, cement and power plants from Jaiprakash Associates Limited and its associate company." The deal includes a total cement capacity of 9.4 Million tones (MnT) per annum, along with clinker capacity of 6.7 MnT and thermal power plants of 280MW at an enterprise value of Rs 5,666 crore, it added.
Alstom Power India Ltd said it signed a Euro 50 million (Rs 2500 million) contract with Jaiprakash Power Ventures Ltd, India.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has signed a Rs 4,000-crore agreement with Larsen & Toubro Ltd, the engineering and construction major, for supply of equipment for its Nigrie Super Thermal Power Project in Madhya Pradesh.
Adani Power will also be dropped from the S&P BSE 100 index
Reflecting substantial financial stress, diversified Jaypee Group companies have defaulted on loans and other payments worth Rs 4,460 crore (Rs 44.60 billion).
The month also saw Adani Power acquiring the 600-Mw Korba West thermal power plant from the Gautam Thapar-led Avantha group for Rs 4,200 crore (Rs 42 billion).
Nifty September F&O series ended lower after seven consecutive positive series with Metal Index falling the most
The tunnel would provide all-weather connectivity between Srinagar and Leh-Ladakh
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Friendlier government policies, greater demand and better supply of coal have fuelled investor interest.
The deal, part of the Jaypee Group's plan to cut Rs 60,000-crore debt, follows months of negotiations.
Govt to issue ownership rights of 15 coal mines on Mar 23.
The market breadth in BSE remains healthy with 1,829 shares advancing and 721 shares declining
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
This was the companies' highest loss in two years.
Deal comes within days of Abu Dhabi's TAQA pulling out of agreement.
The states will get over Rs l lakh crore.
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
The regulator's concern arises from several recent instances.
Adani Power bagged Jitpur mine in Jharkhand.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
TCS, ICICI Bank, Sun Pharma,Tata Motors and HDFC among the top losers for the day
.jpg)
Since April 1, promoters of Jaiprakash Associates have released more than 225 million Jaiprakash Power Ventures shares (valued at Rs 425 crore) pledged with lenders.
According to Merrill Lynch (BofA-ML) report, Domestic capital markets are likely to remain volatile in the September-November period due to factors like US Fed's policy action, second quarter corporate earnings and Bihar state elections.
Mid-caps in cyclical sectors such as cement, financials and capital goods estimated to earn much more
While three operational mines in Chhattisgarh had a capacity of 12 million tonnes (mt), six were yet to start production.
The RBI should provide readily accessible summary information on its website about all corporate debt defaulters and the amounts involved.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances