Jaiprakash Power Ventures’ stocks soar nearly 23% in two days
Business tycoon Gautam Adani has won the approval of creditors of JAL for its Rs14,535-cr acquisition proposal for the bankrupt infra group
Jaiprakash Power Ventures’ stocks soar nearly 23% in two days
Shares of Jaiprakash Power Ventures Ltd continued to remain in high demand on Thursday, surging 22.61 per cent in the past two trading sessions.
On Thursday, the stock climbed 6.50 per cent to settle at Rs 21.63 on the BSE. During the day, it jumped 12.25 per cent to Rs 22.80. At the NSE, its shares surged 6.41 per cent to end at Rs 21.57. Intra-day, the stock zoomed 12.43 per cent to Rs 22.79. In the previous trade, the stock jumped over 15 per cent at the BSE.
Business tycoon Gautam Adani has won the approval of creditors of Jaiprakash Associates (JAL) for its Rs 14,535-crore acquisition proposal for the bankrupt infrastructure group. Adani Enterprises, the flagship firm of Adani Group, outbid Vedanta and Dalmia Bharat to win the bid for JAL.
“The Committee of Creditors (COC) of Jaiprakash Associates Limited (JAL), a company undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016 (IBC), has approved the Resolution Plan submitted by Adani Enterprises Limited (AEL),” AEL said in a stock exchange filing.
Adani got the maximum 89 per cent votes from creditors, followed by Dalmia Cement (Bharat) and Vedanta Group, it added. Without disclosing financial details of the bid, AEL said it has received a Letter of Intent (LOI) from the Resolution Professional (RP) on November 19, 2025.
Jaiprakash Associates (JAL), which has high-quality assets and business interests spanning real estate, cement manufacturing, hospitality, power and engineering & construction, was admitted to the Corporate Insolvency Resolution Process (CIRP) in June last year after it defaulted on payments of loans aggregating Rs 57,185 crore.
