Tag: PNC Infratech

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CCI Approves PNC Infratech’s Bid for Jaiprakash Associates

Sure! Here’s a rewritten version of the content you provided: — NEW DELHI: The Competition Commission of India (CCI) announced on Tuesday that it has granted initial approval for PNC Infratech’s proposal to acquire the financially troubled Jaiprakash Associates, contingent upon winning the ongoing insolvency bid. The proposal involves PNC Infratech acquiring between 95% to 100% of Jaiprakash Associates Ltd (JAL), either directly or through a wholly-owned subsidiary that may be established for this purpose. The CCI confirmed the acquisition’s approval via a post on X, stating, “Commission approves proposed acquisition of Jaiprakash Associates Ltd by PNC Infratech Ltd.” In…

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Adani Group Makes Unconditional Bid for Jaiprakash Associates

MUMBAI: The Adani Group has emerged as the sole bidder without conditions in the acquisition race for Jaiprakash Associates, submitting an offer of ₹12,600 crore during the ongoing insolvency proceedings. Competing bidders such as Dalmia Bharat, Vedanta, Jindal Power, and PNC Infratech have linked their proposals to resolving a significant land dispute related to the Gautam Buddh Nagar Sports City project, which is currently before the Supreme Court. Jaiprakash Associates has garnered five bids, with Dalmia Bharat leading the pack with an offer of ₹14,600 crore, inclusive of the disputed land parcel. However, should the land conflict remain unresolved, Dalmia’s…