Adani Power Limited has informed the Exchange about Updated Disclosure for Acquisition of certain power assets and investments of Jaiprakash Associates Limited
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Adani Power Limited has entered into definitive agreements to acquire power assets from Jaiprakash Associates Limited (JAL) under the NCLT-approved resolution plan. The acquisitions include: (1) 24% shareholding of Jaiprakash Power Ventures Limited (JPVL), a listed entity, for INR 2,993.59 crore; and (2) a 180 MW thermal power plant at Churk, Uttar Pradesh, along with 11.49% stake in Prayagraj Power Generation Company Limited, for INR 1,200 crore. Total consideration is approximately INR 4,193.59 crore, payable in cash. JPVL has aggregate power generation capacity of 2,220 MW across three plants. The resolution plan received NCLT approval on March 17, 2026 and was upheld by NCLAT on May 4, 2026. Competition Commission of India approval was already obtained on August 26, 2025. The transaction is expected to close within 90 days of the NCLT approval date.
The acquisition strengthens Adani Power's generation capacity and aligns with its core business. The listed company stake acquisition (JPVL at 24%) may have open offer implications under SEBI regulations.