Adani Group: To position itself at the forefront of the acquisition race, Adani Group has proposed an advance payment of over ₹8,000 crore. This substantial financial offer has made Adani Group a b contender in this deal.
Adani Group, one of the fastest-growing corporate houses in the country, is now approaching another major deal. The group has offered approximately ₹12,500 crore to acquire Jaiprakash Associates Limited (JAL), which is undergoing bankruptcy proceedings. With this proposal, Adani Group has positioned itself as the best contender.
₹8000 Crore Advance Payment Pledge
According to sources close to the matter, Adani Group has demonstrated its seriousness by offering over ₹8000 crore in advance. This gives it an edge over other bidders. Other competitors in this deal include Dalmia Group, Vedanta, PNC Infratech, and JSPL (Naveen Jindal's company). However, Adani Group's offer is currently considered the highest.
JAL's Areas of Operation
Jaiprakash Associates is a multi-sectoral company with operations in several key areas. This includes cement manufacturing, real estate, power generation, and the hotel industry. The company has a cement manufacturing capacity of 10 million tons. Additionally, five luxury hotels, a fertilizer manufacturing unit, and approximately 2500 acres of land on the Noida Expressway are included in the company's assets. Furthermore, the Buddh International Circuit in Greater Noida, where Formula One races were previously held, was also under the company's management.
The Company Burdened by Heavy Debt
Jaiprakash Associates has been burdened by heavy debt in recent years. The company had taken loans of approximately ₹48,000 crore from 25 banks in the country. These banks primarily include Punjab National Bank and IDBI Bank. In March 2025, these banks collectively sold JAL's bad debt to the National Asset Reconstruction Company (NARCL) for only ₹12,700 crore.
Plans for Expansion in Cement and Real Estate
Adani Group is already rapidly establishing itself in the cement sector in India. It has acquired major brands like Ambuja Cement and ACC in recent years. Now, the group plans to strengthen its cement network in central and northern India, and the acquisition of JAL is considered a significant step in this strategy.
Adani's Eye on JAL's Land
The 2500 acres of land that JAL owns in the Noida-Greater Noida area could prove to be a golden opportunity for Adani Group in the real estate sector. Considering the land prices and project values in Delhi-NCR, the business significance of this property is very high.
Share Status and Market Trends
Currently, the market price of JAL's shares is only ₹3, and a 'Trading Restricted' tag is placed on them. However, experts believe that if Adani Group acquires this company, it could be revitalized, and its position in the stock market could improve.
Adani Ahead in the Competition with Major Companies
Major companies like Vedanta, Dalmia Group, and Naveen Jindal's JSPL are also in the race to acquire this deal. But Adani Group's advance payment offer and the highest bid position it ahead of other contenders. This has also given a positive signal to the creditors and policy-making institutions.
Deal Awaiting NCLT Approval
Now, everyone's eyes are set on the decision of the National Company Law Tribunal (NCLT). The tribunal has to decide to whom the company will be finally handed over after reviewing the creditors' consent and proposals. If Adani Group's acquisition proposal is approved, it will be considered one of the biggest corporate deals of the year 2025.
