12 months ago
Vedanta Wins JAL Bid After Adani Duel with Rs 17,000 Cr
Vedanta, led by Anil Agrawal, won the bid to acquire Jaiprakash Associates (JAL) for Rs 17,000 crore, beating Adani Group.
JAL, which owns real estate, cement plants, and hotels, was facing insolvency after defaulting on loans.
The bid's net present value is Rs 12,505 crore.
JAL was admitted to insolvency proceedings in June 2024 after ICICI Bank filed a petition.
The company has significant debt, with financial creditors claiming Rs 57,185 crore.
NARCL is now the largest claimant.
The acquisition will add a new business vertical for Vedanta.
Vedanta won the bid for Jaiprakash Associates (JAL) with a Rs 17,000 crore offer.
Adani Group was the other bidder in the process.
The bid translates to a net present value of Rs 12,505 crore.
JAL was undergoing corporate insolvency proceedings.
NARCL is the largest claimant with Rs 57,185 crore in claims.
- Who
- Vedanta
- What
- Won the bid for Jaiprakash Associates (JAL)
- Where
- Not explicitly stated
- When
- September 5, 2025
- Why
- To acquire assets from debt-ridden Jaiprakash Associates
Key facts
- Winning Bidder
- Vedanta
- Bid Amount
- Rs 17,000 crore
- Net Present Value (NPV)
- Rs 12,505 crore
- Runner-up
- Adani Group
- Company in Insolvency
- Jaiprakash Associates (JAL)
- Creditors' Claims
- Rs 57,185 crore
Timeline
Debt-ridden Jaiprakash Associates entered insolvency.
Then, lenders pushed to sell its assets.
Creditors approved a competitive auction to proceed.
Vedanta Group joined the auction to acquire the assets.
Vedanta Group won with a bid of ₹17,000 crore.
Quotes
A source
A source familiar with the bidding process
“The difference is in the range of ₹200-250 crore.”
thehindubusinessline.com
Sources
Vedanta outbids Adani to win JAL with Rs 17,000 crore bid
Vedanta beats Adani with Rs 17,000 cr bid to acquire Jaiprakash Associates
Vedanta beats Adani Group with Rs 17,000 cr bid to acquire JAL
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Vedanta acquires Jaiparkash Associates in Rs 17,000 crore bid, beats Adani Group
Vedanta outbids Adani Group to acquire debt-laden Jaiprakash Associates for Rs 17,000 crore
Vedanta trumps Adani in closely-contested battle to win bid for Jaiprakash Associates
