Adani Power Limited has informed the Exchange about acquisition of certain power assets and investments of Jaiprakash Associates Limited
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Adani Power Limited has signed definitive agreements to acquire power assets from Jaiprakash Associates Limited (JAL) under an NCLT-approved resolution plan. The company will acquire 24% stake in listed entity Jaiprakash Power Ventures Limited for INR 2,993.59 crore and a 180 MW thermal power plant at Churk in Uttar Pradesh along with 11.49% stake in Prayagraj Power Generation Company Limited for INR 1,200 crore. Both acquisitions are cash transactions totaling approximately INR 4,193.59 crore. The deal is part of Adani Enterprises' resolution plan for JAL, approved by NCLT Allahabad bench on March 17, 2026. JPVL operates three power plants with aggregate capacity of 2,220 MW, a cement grinding unit, and coal mine.
This acquisition strengthens Adani Power's generation capacity and adds a listed company stake to its portfolio. The deal is within core business and likely to be accretive, though the large cash outlay may temporarily impact balance sheet metrics.