The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on May 27, 2026 for Adani Power Ltd
JPPOWER · price
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Adani Power Limited has disclosed creation of encumbrances over shares of Jaiprakash Power Ventures Limited (JPVL) following acquisition of a 24% stake (1,64,48,30,118 shares) from erstwhile promoter Jaiprakash Associates Limited (JAL). The encumbrances consist of: (1) a pledge over 1,20,05,09,431 equity shares (17.517% of total share capital) created on May 21, 2026 in favour of IDBI Trusteeship Services Limited for loans totaling approximately Rs 8,654 crores, and (2) a non-disposal undertaking over 10,21,88,566 equity shares (1.49% of total share capital) created on May 27, 2026. The total encumbered shares represent 19.01% of promoter holding. These encumbrances were created as part of implementation of the NCLT-approved Resolution Plan for JAL's insolvency, where Adani Enterprises Limited's resolution plan was approved on March 17, 2026. The Resolution Plan specifically preserved the existing pledge for the benefit of the company's lenders.
This filing confirms Adani Power Limited has taken control of JPVL's 24% promoter stake through the insolvency resolution process while maintaining the existing pledge structure for lenders. The pledge of nearly 73% of the newly acquired promoter holding (1,20,05,09,431 shares) for substantial debt facilities indicates significant financial leverage in the acquisition.