JP Power Share Price Surge as Stock Goes Up by 3% After Recent Decline

JP Power Shares Surge 3% Amid Adani Group Acquisition Report

Shares of Jaiprakash Power Ventures (JP Power) saw a 3% rise on Tuesday, December 2, following a significant decline last week. The surge is attributed to reports that Adani Group is likely to acquire bankrupt infrastructure firm Jaiprakash Associates (JAL), with experts predicting a positive impact on JP Power due to its 24% stake in the company.

Adani Group's Bid Wins Approval from JAL Creditors

Adani Group Chairman Gautam Adani received approval from JAL creditors for the ₹14,535-crore acquisition proposal, outbidding Vedanta and Dalmia Bharat. The shares of JP Power had previously surged after Adani Group won the approval, with the company's shares rising significantly.

Key Statistics:

• Adani Group secured 89% votes from creditors.
• Dalmia Cement (Bharat) secured 8% votes, followed by Vedanta Group with 3% votes.
• Adani Enterprises, the flagship firm of Adani Group, submitted the winning bid for JAL.

JAL's Assets and Business Interests

Jaiprakash Associates (JAL) has a diverse range of assets and business interests, including:

• Real Estate: Jaypee Greens in Greater Noida, Jaypee Greens Wishtown in Noida, and Jaypee International Sports City.
• Cement Manufacturing: Four cement plants in Madhya Pradesh and Uttar Pradesh.
• Hotel Division: Five properties in Delhi-NCR, Mussoorie, and Agra.
• Commercial or Industrial Office Spaces: Three properties in Delhi-NCR.
• Leased Limestone Mines: A few mines in Madhya Pradesh.

Investments in Subsidiaries

JAL has investments in several subsidiaries, including:

• Jaiprakash Power Ventures Ltd.
• Yamuna Expressway Tolling Ltd.
• Jaypee Infrastructure Development Ltd.
• Several other companies.