Adani Enterprises Gains 2% as NCLT Approves Rs 14,535 Crore Jaiprakash Acquisition
Shares of Adani Enterprises (AEL) rose over 2% on March 18, a day after the National Company Law Tribunal (NCLT) approved AEL's Rs 14,535 crore bid to acquire Jaiprakash Associates Ltd (JAL) through the insolvency process.
Key Highlights:
- Adani Enterprises shares rose 2.2% to Rs 2,109 apiece at 9:50 am on March 18.
- NCLT approved AEL's Rs 14,535 crore bid to acquire JAL.
- Jaypee Power Ventures traded 8% higher at Rs 15.14 apiece.
NCLT Approval:
The NCLT, Allahabad bench, orally pronounced an order on March 17, 2026, approving the resolution plan submitted by Adani Enterprises Ltd.
Jaiprakash Associates Ltd (JAL) informed in a regulatory filing that the NCLT has approved the resolution plan submitted by AEL.
Background:
The Committee of Creditors (CoC) had approved the resolution plan by business tycoon Gautam Adani to acquire JAL in November last year.
AEL won the approval of creditors of JAL for its Rs 14,535 crore acquisition proposal for the bankrupt infrastructure group.
JAL Assets:
JAL has high-quality assets and business interests spanning real estate, cement manufacturing, hospitality, power, and engineering & construction.
The company has major real estate projects, including Jaypee Greens in Greater Noida and Jaypee International Sports City near the upcoming Jewar International Airport.
JAL also has three commercial/industrial office spaces in Delhi-NCR and five properties in Delhi-NCR, Mussoorie, and Agra.
The company has four cement plants in Madhya Pradesh and Uttar Pradesh, and leased limestone mines in Madhya Pradesh.
JAL also has investments in subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, and Jaypee Infrastructure Development Ltd.
Outcome:
Adani Enterprises got the maximum 89% votes from creditors, followed by Dalmia Cement (Bharat) and Vedanta Group.