Adani Power Seals ₹4,194 Crore Deal for Jaiprakash Power Stake and Churk Plant

Adani Power Limited disclosed to BSE and NSE today that it has signed two definitive agreements to acquire power assets from Jaiprakash Associates Limited (JAL), formalising its role as an implementing entity under the insolvency resolution plan approved by the National Company Law Tribunal.

Under the Share Purchase Agreement, Adani Power will pay approximately ₹2,993.59 crore for JAL’s 24% stake in Jaiprakash Power Ventures Limited (JPVL), a listed entity operating 2,220 MW of thermal and hydro capacity, a 2 MTPA cement grinding unit, and a 3.92 MTPA coal mine. JPVL posted a turnover of ₹5,791 crore in FY2025-26.

A separate Business Transfer Agreement covers the 180 MW Churk thermal power plant in Sonbhadra, Uttar Pradesh, along with an 11.49% stake in Prayagraj Power Generation Company Limited, for a flat ₹1,200 crore. Both transactions are fully cash-funded.

The resolution plan received NCLT Allahabad approval on March 17, 2026 and was upheld by the National Company Law Appellate Tribunal on May 4, 2026. Competition Commission of India clearance was obtained as early as August 2025. Completion is expected within 90 days of the NCLT order, placing the effective close around mid-June 2026.

Adani Power noted the acquisitions are not related-party transactions and are squarely within its core power generation business.