Jaiprakash Associates Limited has informed the Exchange about General Updates-Disclosure_under_Regulation_30_4th_Meeting_of_MC
Awaiting price reaction for this filing.
Jaiprakash Associates Limited has completed implementation of its NCLT-approved resolution plan submitted by Adani Enterprises Limited. On May 21, 2026 (Effective Date), sale transactions with Adani Power Limited and Adani Ports and Special Economic Zone Limited were consummated, transferring power assets (Jaiprakash Power Ventures Limited, Prayagraj Power Generation Company Limited) and Jaypee Fertilizers & Industries Limited. The company allotted 5 crore equity shares (Rs 2 each, totaling Rs 1 crore) to Adani Infra India Limited (AIIL) and nominees, who now hold 100% of the share capital. The entire pre-existing share capital (equity and preference) has been cancelled for zero consideration. The company stands delisted from the Effective Date. The old suspended board has been dissolved and replaced by a new reconstituted board comprising Adani Infra personnel.
This represents a complete takeover of Jaiprakash Associates by Adani Group through the insolvency resolution process. Existing shareholders have been completely wiped out as the company has been delisted with all pre-existing share capital extinguished. The stock will no longer trade.