Vedanta Wins ₹17,000 Crore Bid for Jaiprakash Associates
NEW DELHI: Mining giant Vedanta has outbid Gautam Adani’s Group to acquire the financially troubled Jaiprakash Associates (JAL) for Rs 17,000 crore, as reported by sources. This bid equates to an estimated net present value (NPV) of Rs 12,505 crore for JAL. JAL operates in various sectors including real estate, cement, power, hotels, and road construction, but it has been subjected to insolvency proceedings following loan payment defaults. The creditors of JAL initiated a competitive bidding process for the company’s sale under the Insolvency and Bankruptcy Code (IBC). While several parties expressed interest, only Vedanta and Adani Group placed firm…
