Punj Lloyd Limited has informed the Exchange about Corporate Insolvency Resolution Process : In terms of Regulation 30 of Securities and Exchange Board of India Regulations, 2015 (LODR) read with Schedule III of LODR, as amended and in furtherance of our letter(s) dated October 18, 2025, February 12, 2026 & Februrary 13, 2026, the Liquidator of the Company has executed the Sale Certificate dated March 10, 2026 for the sale of the Company on a going concern basis to the Successful bidder viz. Adani Infra (India) Limited ("Sale Certificate"). The ''Transfer date'' as identified in the Sale Certificate is March 10, 2026. (detailed disclosure attached)
Awaiting price reaction for this filing.
Punj Lloyd Limited, currently in liquidation under the Insolvency and Bankruptcy Code (IBC) 2016, has been sold to Adani Infra (India) Limited on a going concern basis. The Liquidator executed the Sale Certificate on March 10, 2026, following the NCLT's approval of the acquisition plan on February 12, 2026. The total sale consideration paid by Adani Infra is INR 281.10 crores, in accordance with the 14th round of e-auction. Adani Infra has also committed to assuming liability for certain bank guarantees (10% of disputed and 25% of ongoing project bank guarantees). The transfer date is March 10, 2026, effectively completing the change in ownership of the company.
This marks the formal takeover of Punj Lloyd by the Adani Group, ending years of insolvency proceedings. For existing shareholders, equity in the listed entity is effectively rendered worthless as this is a liquidation sale, not a revival through a resolution plan — the stock is likely to be delisted or suspended from trading.