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The Economic Times
The Economic Times

Adani’s ₹5,700 crore Jaypee takeover gets monitoring panel to oversee execution of key deals

Jaiprakash Associates Adani Enterprises Adani Group Adani Power

Adani Enterprises’s resolution plan for Jaiprakash Associates has moved into the implementation stage, with the debt-ridden company constituting a monitoring committee to oversee deals worth nearly ₹5,700 crore involving the transfer of key assets to Adani Group entities.

The transactions include nearly ₹2,994 crore for the sale of Jaiprakash Associates’ 24% stake in JPVL to Adani Power, ₹1,200 crore for the transfer of its 180 MW Churk thermal power plant and related assets to Adani Power, and ₹1,500 crore for the sale of Jaypee Fertilizers & Industries — the holding company of Kanpur Fertilizers and Chemicals Ltd — to Adani Ports and Special Economic Zone.

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