The Adani Group has emerged as the only bidder without conditions to acquire Jaiprakash Associates, submitting a Rs 12,600 crore offer under the ongoing insolvency process, a report by Economic Times stated.
Jaiprakash Associates has received five bids, with Dalmia Bharat emerging as the front-runner with a Rs 14,600 crore offer, which includes a disputed land parcel. However, if the land dispute isn’t settled, Dalmia’s bid value would effectively reduce to Rs 12,600 crore—on par with Adani’s unconditional offer, sources familiar with the development told the publication.
According to reports, the valuation of the bids could be impacted by around Rs 2,000 crore due to the disputed land parcel.
The bids for Jaypee Group’s flagship company—which operates in cement, power, EPC, hospitality, real estate, and sports infrastructure—were opened during a committee of creditors (CoC) meeting on Monday.
Vedanta and Jindal Power submitted bids of Rs 12,500 crore and Rs 10,300 crore, respectively, while PNC Infratech offered Rs 9,500 crore. Suraksha Group, despite earlier interest, did not proceed with a firm bid on Monday.
Earlier on July 5, Jaiprakash Associates Ltd had informed the exchanges about the seventeenth meeting of Committee of Creditors pursuant to order passed by the National Company Law Tribunal. “…this is to inform that the Seventeenth meeting of the Committee of Creditors of the Company will be held on 7th July, 2025.”
Shares of Jaiprakash Associates were up 4.89 per cent at 9:30 am today at a trading price of Rs 3.22.