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Vedanta beats Adani with ₹17K cr bid to acquire JAL
The Political and Business Daily
|September 06, 2025
MINING conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisition of debt-ridden Jaiprakash Associates (JAL) for Rs 17,000 crore, according to sources.
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The bid value translates into Jaiprakash Associates’ net present value of Rs 12,505 crore. JAL, which has interests in real estate, cement, power, hotels and roads, has been dragged into insolvency proceedings after it defaulted on payment of loans.
Lenders of JAL conducted a challenge process for the sale of the company under the IBC.
Multiple bidders participated in the process, but in the end, firm bids were placed by only two entities, Adani and Vedanta Group.
This story is from the September 06, 2025 edition of The Political and Business Daily.
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