Jaiprakash Associates Limited has informed the Exchange about General Updates-Disclosure_under_Regulation_30_1st_closing_Meeting_of_Monitoring_Committee
Awaiting price reaction for this filing.
Jaiprakash Associates informed exchanges about the 1st meeting of the Monitoring Committee held on May 21, 2026. The committee recorded that stipulated payments were received in the Designated Fund Account for stakeholder payments. Key approvals included allotment of 2,49,41,82,929 unlisted non-convertible debentures (face value INR 100 each, totaling ~INR 24,942 crore) to secured financial creditors with 30-year tenure at 0.0001% interest, and issuance of 5 crore equity shares to Adani Infra (India) Limited at INR 2 per share (INR 1 crore aggregate). The company also executed definitive agreements on May 20, 2026 for sale of power assets to Adani Power Limited and JFIL stake to Adani Ports & Special Economic Zone Limited as part of the Adani Enterprises-approved resolution plan under IBC. The share capital was increased from INR 3,500 crore to INR 7,000 crore to facilitate the plan implementation.
Shareholders should note that this represents significant progress in the resolution plan implementation, with Adani group entities taking control through equity infusion and asset acquisitions. The monitoring committee oversight ensures orderly execution of the debt restructuring approved by NCLT.