Adani Power Rises 2.60% After Signing Rs 4,193 Cr JAL Acquisition Deals
Shares of Adani Power Limited climbed 2.60% on 21 May, touching a day high of Rs 226.40 on the NSE, after the company signed two definitive agreements to acquire assets from debt-laden Jaiprakash Associates Limited as part of a court-approved insolvency resolution. Two separate deals make up the total outlay... The post Adani Power Rises 2.60% After Signing Rs 4,193 Cr JAL Acquisition Deals appeared first on Equitypandit.
Shares of Adani Power Limited climbed 2.60% on 21 May, touching a day high of Rs 226.40 on the NSE, after the company signed two definitive agreements to acquire assets from debt-laden Jaiprakash Associates Limited as part of a court-approved insolvency resolution.
Two separate deals make up the total outlay of Rs 4,193.6 crore. The first is a Share Purchase Agreement to buy JAL’s 24% stake in Jaiprakash Power Ventures Limited (JPVL) for Rs 2,993.6 crore.
The second is a Business Transfer Agreement covering the 180 MW Churk thermal power plant in Sonbhadra district, Uttar Pradesh, along with JAL’s 11.49% stake in Prayagraj Power Generation Company Limited, for Rs 1,200 crore. Both deals will be settled in cash.
JPVL runs thermal and hydro power plants with a combined capacity of 2,220 MW. Apart from power generation, the company also has interests in coal mining, sand mining, and cement grinding operations.
The acquisitions are part of a larger insolvency resolution process involving JAL. Earlier this year, the NCLT approved the Adani Group-led Rs 14,535 crore resolution plan for JAL, which had defaulted on loans of around Rs 57,185 crore.
The bid beat out competing offers from Vedanta and Dalmia Bharat. The Competition Commission of India had already cleared the transaction in August 2025, and the appellate tribunal upheld the plan in May 2026.
Adani Power disclosed that both acquisitions are expected to be completed on the effective date under the approved resolution plan, within 90 days of NCLT approval.
At 12:12 pm on 21 May, shares of Adani Power were trading at Rs 221.90, up by 0.75% on the NSE. The stock has rallied strongly this year and has more than doubled over the past 12 months.
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