M&A

M&A

Adani Power to acquire stake in Jaiprakash Power, Churk thermal plant assets for Rs.4,193-Cr

BSE Announcement   Economic Times   Jaiprakash Power Ventures  

Adani Power is to acquire a 24% stake in Jaiprakash Power Ventures and the 180 MW Churk thermal power plant in Uttar Pradesh. This transaction, part of a National Company Law Tribunal (NCLT) approved resolution plan for Jaiprakash Associates, includes the acquisition of related assets such as an 11.49% stake in Prayagraj Power Generation Company.The acquisition is valued at about INR 4,193 crore, with INR 2,993.6 crore allocated for the stake in Jaiprakash Power Ventures and INR 1,200 crore for the thermal plant and associated assets. The transaction will be financed in cash and is expected to conclude within 90 days of the NCLT approval granted on March 17, 2026.Jaiprakash Power Ventures operates thermal and hydro power assets with an aggregate capacity of 2,220 MW and maintains interests in coal mining, sand mining, and cement grinding businesses.