Jaiprakash Power Ventures shares surge for 2nd day; jump over 29% in two days

New Delhi: Shares of Jaiprakash Power Ventures Ltd continued to remain in high demand on Thursday, surging over 12 per cent during the morning trade.

The stock jumped 12.25 per cent to Rs 22.80 on the BSE.

At the NSE, shares of the firm surged 12.43 per cent to Rs 22.79.

In the previous trade also, the stock zoomed over 15 per cent at the BSE.

Business tycoon Gautam Adani has won the approval of creditors of Jaiprakash Associates (JAL) for its Rs 14,535-crore acquisition proposal for the bankrupt infrastructure group.

Adani Enterprises, the flagship firm of Adani Group, outbid Vedanta and Dalmia Bharat to win the bid for JAL.

"The Committee of Creditors (COC) of Jaiprakash Associates Limited (JAL), a company undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016 (IBC), has approved the Resolution Plan submitted by Adani Enterprises Limited (AEL)," AEL said in a stock exchange filing.

Adani got the maximum 89 per cent votes from creditors, followed by Dalmia Cement (Bharat) and Vedanta Group, it added.

Without disclosing financial details of the bid, AEL said it has received a Letter of Intent (LOI) from the Resolution Professional (RP) on November 19, 2025.

Jaiprakash Associates (JAL), which has high-quality assets and business interests spanning real estate, cement manufacturing, hospitality, power and engineering & construction, was admitted to the Corporate Insolvency Resolution Process (CIRP) in June last year after it defaulted on payments of loans aggregating Rs 57,185 crore.

JAL has major real estate projects like Jaypee Greens in Greater Noida, a part of Jaypee Greens Wishtown in Noida (both on the outskirts of the national capital), and the Jaypee International Sports City, strategically located near the upcoming Jewar International Airport.

It also has three commercial/industrial office spaces in Delhi-NCR, while its hotel division has five properties in Delhi-NCR, Mussoorie, and Agra. JAL has four cement plants in Madhya Pradesh and Uttar Pradesh, and a few leased limestone mines in Madhya Pradesh.

It also has investments in subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd, and several other companies.