Jaiprakash Associates Limited has informed the Exchange about General Updates
Awaiting price reaction for this filing.
Jaiprakash Associates Limited disclosed execution of definitive agreements for sale of assets under its NCLT-approved resolution plan submitted by Adani Enterprises Limited. The company entered into three agreements: (1) Business Transfer Agreement with Adani Power Limited for 180 MW thermal power plant in Churk and 11.49% shares of Prayagraj Power Generation Company Limited for INR 1,200 crore; (2) Share Sale Agreement with Adani Ports & Special Economic Zone Limited for 100% of Jaypee Fertilizers & Industries Limited (holding company of Kanpur Fertilizers and Chemicals Limited) for INR 1,500 crore; (3) Share Sale Agreement with Adani Power Limited for 24% of JPVL for INR 2,993.59 crore. Total consideration amounts to approximately INR 5,693.59 crore. A monitoring committee was constituted on May 18, 2026 to supervise implementation. The buyers are not part of the promoter group and the transactions are not related party transactions.
The asset sales mark significant progress in Jaiprakash Associates' insolvency resolution process. With approximately INR 5,694 crore in proceeds, this should help reduce the company's debt burden substantially. Shareholders may see positive sentiment as the resolution plan advances toward completion.