Adani Power has rejected media reports claiming that it plans to increase its stake in JP Power from 24% to 51%. In a stock exchange filing, the company said the report was completely incorrect and that it had not taken any such step as claimed.
A media report had claimed that Adani Power could increase its stake in JP Power to 51% by the end of 2026. Adani Power subsequently clarified its position through a stock exchange filing and said the report was completely incorrect.
The company stated in its filing, “We would like to clarify that this article is completely incorrect. Adani Power Limited has not taken any such step as claimed in the article.”
Adani Power further clarified that the media report regarding an increase in its stake in JP Power from 24% to 51% was not factually correct.
Adani Power’s 24% stake in JP Power is linked to Jaiprakash Associates, a company of the Jaypee Group. According to the information provided, JP Associates held a 24% stake in JP Power. Following the insolvency of JP Associates and its acquisition by the Adani Group, the stake came under Adani Power.
Following the acquisition of the stake, Adani Power became a major investor in JP Power. The acquisition of the stake was part of changes involving Jaypee Group’s assets and businesses.
The media report had claimed that Adani Power’s stake in JP Power could reach 51% by the end of 2026. However, according to the company’s official clarification, no such step has been taken.
Adani Power has not confirmed the reported increase in its 24% stake in JP Power to 51%. The company’s filing makes clear that the report related to increasing the stake to 51% is incorrect.
