Adani Power Limited has entered into definitive agreements with Jaiprakash Associates Limited to acquire select power assets and investments as part of the implementation of the National Company Law Tribunal (NCLT)-approved resolution plan submitted by Adani Enterprises Limited.
The company informed stock exchanges that the agreements include the acquisition of a 24 per cent stake in Jaiprakash Power Ventures Limited held by Jaiprakash Associates Limited (JAL), along with the acquisition of JAL’s 180 MW thermal power plant located in Churk, Uttar Pradesh, and related assets. The transaction also covers JAL’s 11.49 per cent shareholding in Prayagraj Power Generation Company Limited.
According to the disclosure, the acquisitions are being undertaken under the terms of the approved resolution plan and are expected to be completed on the “Effective Date” stipulated under the plan. The company stated that the transaction is expected to close within 90 days from March 17, 2026, the date on which the NCLT approved the resolution plan.
Adani Power said the acquisition aligns with its core power generation business and will strengthen its position in the thermal and hydro power sector. The company also confirmed that the transaction does not fall under related party transactions and that no promoter or group company has any interest in the acquired entities.
The Competition Commission of India had already approved the transaction on August 26, 2025. The resolution plan was approved by the NCLT, Allahabad Bench at Prayagraj, on March 17, 2026, and subsequently upheld by the National Company Law Appellate Tribunal on May 4, 2026.
As part of the transaction, Adani Power will acquire the 24 per cent stake in Jaiprakash Power Ventures for approximately INR 2,993.59 crore in cash. Additionally, the acquisition of the 180 MW Churk thermal power plant and associated assets, including the 11.49 per cent stake in Prayagraj Power Generation Company Limited, will be completed for INR 1,200 crore.
Jaiprakash Power Ventures Limited is engaged in thermal and hydro power generation, along with coal mining, sand mining, and cement grinding operations. The company currently operates three power plants with a combined installed capacity of 2,220 MW, a 2 MTPA cement grinding unit, and a 3.92 MTPA coal mine.
