Adani Power To Acquire 24% Stake In JP Power For ₹4,193 Cr; Stock Market Reacts

Añadido: 2026-05-21

[00:00:00]Adani Power on Thursday said that it's signed definitive agreements to acquire a 24% stake in Jaiprakash Power Ventures or JP Power and a 180 megawatt thermal power plant from Jaiprakash Associates Limited. This was a part of the insolvency resolution process for the debt-ridden conglomerate.

[00:00:20]In a regulatory filing, the company said that the acquisition is being carried out under the NCLT approved resolution plan for Jaiprakash Associates submitted by Adani Enterprises.

[00:00:31]Adani Power said it has entered into a share purchase agreement for acquiring a 24% share of JP Power held by JAL.

[00:00:39]It also signed a business transfer agreement to acquire JAL's 180 megawatt thermal power plant in [music] Churk, UP along with related assets, including an 11.49% stake in Prayagraj Power Generation Company.

[00:00:54]Adani Power said the acquisitions align with its core power generation business.

[00:00:59]The stock market reacted accordingly.

[00:01:02]The Adani Power stock first surged 2% in the morning trade on May 21st, [music] but then fell. By the time of writing the story, Adani Power shares were trading at 220 rupees a share, down 0.11% since yesterday.

[00:01:15]JP Power shares were up 1.86% and sat at 18.65 rupees a share.

[00:01:22]Over the last 5 days, the stock surged 6.88%.

[00:01:26]The restructuring framework divides JAL diverse infrastructure, manufacturing, and energy portfolio across various Adani Group verticals.

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