Synopsis:
Jaiprakash Power Ventures shares surged 17% after creditors of Jaiprakash Associates favoured Adani Enterprises’ Rs. 13,500 crore takeover bid over Vedanta’s higher offer, attracted by faster payouts and larger upfront payments, advancing India’s largest insolvency resolution.
This company operates in coal mining, sand mining, cement grinding, and production of thermal and hydroelectric electricity is now in the focus after Adani has been chosen to acquire under the insolvency process.
With market capitalization of Rs. 13,919 cr, the shares of Jaiprakash Power Ventures Ltd are closed at Rs. 20.31 per share, increasing more than 17% in today’s market session making a high of Rs. 20.75, from its previous close of Rs. 17.64 per share.
News
According to sources, Creditors of Jaiprakash Associates have unanimously supported Adani Enterprises Limited’s takeover offer of Rs. 13,500 crore, choosing it over Vedanta’s higher Rs. 17,000 crore bid. The primary reason for this preference was Adani’s offer of larger upfront payments and a much faster payout timeline of 1.5 to 2 years, compared to Vedanta’s extended five-year payout plan.
Jaiprakash Associates is currently undergoing one of India’s largest insolvency proceedings, with outstanding debts of around Rs. 55,000 crore. Other bidders included Dalmia Bharat, Jindal Power, and PNC Infratech, while the promoter Manoj Gaur’s last-minute bid was withdrawn. This unanimous support from creditors marks a significant step forward toward formalizing the resolution plan.
The Committee of Creditors (CoC) is expected to formalize this selection and submit it to the National Company Law Tribunal (NCLT) for approval. The National Asset Reconstruction Company Limited (NARCL), which has taken over the loans from a consortium of lenders led by the State Bank of India , is leading creditor claims in this resolution process.
The swift payout plan and larger upfront payments from Adani Enterprises have aligned with the interests of the creditors, supporting an expedited resolution of one of the largest insolvency cases in India. The formal approval from NCLT will mark a critical milestone in this high-profile corporate restructuring.
About the company
Jaiprakash Power Ventures Ltd is an integrated power company engaged in the generation and sale of electricity across thermal and hydro power projects in India. The company focuses on operating efficient power plants, managing long-term power purchase agreements, and optimizing its energy portfolio to serve industrial, commercial, and utility customers, contributing to India’s growing energy infrastructure.
JP Power Ventures reported about 17.2% YoY growth in revenue, rising to Rs. 1,438 crore in Q2 FY26. EBITDA increased around 22% to Rs. 471 crore, reflecting improved operational performance. Net profit was largely stable at Rs. 182 crore from last year, while EPS remained steady at Rs. 0.2.
The company demonstrates a ROCE of 10.3% and ROE of 6.85%, supported by a conservative debt-to-equity ratio of 0.28. Its stock is currently trading at 0.99 times book value, and the company has achieved a healthy 5-year profit CAGR of 20%
The company’s entire promoter stake is held by Jaiprakash Associates Limited, which owns approximately 24% of the shares as of Q2 FY26. FII’s slightly increased their stake from 6.30% in Q1FY26 to 6.34% in Q2FY26. DII’s stake declined to 17.19% from 17.27%. Public hold increased to 52.48% from 52.43% over the same period.
Written by Manideep Appana
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