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Vedanta Named Top Bidder for Jaiprakash Associates With Rs 17,000 Crore, Staggered Payout Plan

Creditor approval then an NCLT order must come before any payout.

Jaiprakash Associates: Vedanta's unrelated biz foray negative for minority investors, says Nuvama
JP Power shares hit 5% upper circuit limit on this update; details here

Overview

  • Vedanta’s headline offer is about Rs 17,000 crore with an NPV of roughly Rs 12,505 crore, including around Rs 4,000 crore to be paid only after NCLT clearance and the rest over 5–6 years.
  • The NARCL-led committee has identified Vedanta as the H1 bidder, with a vote on the resolution plan expected in four to eight weeks and court approval likely to take additional months.
  • Adani Group, Dalmia Bharat, Jindal Power and PNC Infratech competed in the challenge process in which Vedanta secured the top slot.
  • JAL’s assets span about 4,000 acres in Delhi‑NCR, a 24% stake in 2,200 MW JP Power, 10 MTPA cement capacity, a 0.72 MTPA urea plant, five hotels and EPC businesses.
  • Brokerages flagged strategic and liability risks for Vedanta, even as JP Power shares hit a 5% upper circuit after reports of Vedanta’s H1 status.