Adani Power to acquire 24 pc stake in JPVL, thermal assets for Rs 4,194 cr

Adani Power has entered into definitive agreements to acquire a 24% stake in Jaiprakash Power Ventures and other thermal assets for approximately Rs 4,193.59 crore.

Adani Power on Thursday said it has entered into definitive agreements to acquire a 24 per cent stake in Jaiprakash Power Ventures and other thermal assets from Jaiprakash Associates for about Rs 4,193.59 crore.

According to a regulatory filing, the company has also inked a Share Purchase Agreement for the acquisition of 24 per cent shares of Jaiprakash Power Ventures Ltd, held by Jaiprakash Associates.

Further, Adani Power has inked a Business Transfer Agreement for the acquisition of the 180 MW thermal power plant of Jaiprakash Associates located in Churk and other related assets, including 11.49 per cent shares of Prayagraj Power Generation Company Ltd, held by Jaiprakash Associates.

It stated that the consideration for 24 per cent of the shareholding of JPVL, held by JAL, stood at Rs 2,993.60 crore and for the 180 MW thermal power plant of JAL located in Churk and other related assets, including 11.49 per cent shares of Prayagraj Power Generation Company Ltd, held by JAL, is Rs 1,200 crore.

On March 19, 2026, the company had intimated bourses that it had expressed its in-principle interest in becoming one of the ''Implementing Entities'' under the NCLT-approved resolution plan for Jaiprakash Associates Ltd.

The company stated that as part of the implementation of the Approved Resolution Plan, the company has entered into these definitive agreements with JAL.

Approval by the Competition Commission of India has already been obtained on August 26, 2025, it stated.

The Approved Resolution Plan was approved by the National Company Law Tribunal, Allahabad bench at Prayagraj on March 17, 2026, which was further upheld by the National Company Law Appellate Tribunal on May 4, 2026.

Jaiprakash Power Ventures Ltd is engaged primarily in the business of thermal and hydro power generation, and also has coal mining, sand mining and cement grinding. JPVL presently owns and operates three Power plants with an aggregate capacity of 2,220 MW, a 2 MTPA Cement Grinding Unit and a 3.92 MTPA Coal Mine.