Adani Enterprises Ltd declared Successful Resolution Applicant and issued LoI for acquiring Jaiprakash Associates Limited

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").

In this regard, AEL has received a Letter of Intent ("LOI") from the Resolution Professional ("RP") on November 19, 2025 at 3:05 p.m.

JAL is engaged in wide array of businesses such as Engineering and Construction, Cement, Power, Real Estate, Fertilizers, Hospitality, including through investments in its subsidiaries and affiliates.

The implementation of the resolution plan is subject to the terms of the LOI and requisite approvals from the National Company Law Tribunal, Allahabad Bench, Prayagraj and / or any other regulatory authority / courts / tribunal (as the case may be) under applicable laws. The resolution plan, or any part thereof, may be implemented by AEL, its promoters, promoter group, and such other persons who are generally identified as being part of the Adani group ("Adani Entities"), or through any special purpose vehicle (including one or more special purpose vehicle held by any Adani Entity) or any nominee identified by AEL, in accordance with the terms of the resolution plan.

Shares of Adani Enterprises Limited was last trading in BSE at Rs. 2436.55 as compared to the previous close of Rs. 2464.90. The total number of shares traded during the day was 78095 in over 3934 trades.

The stock hit an intraday high of Rs. 2478.45 and intraday low of 2433.35. The net turnover during the day was Rs. 191387159.00.

Source : Equity Bulls

Keywords

AdaniEnterprises INE423A01024 SuccessfulResolutionApplicant LoI InsolvencyResolutionProcess JaiprakashAssociates