The settlement is subject to the payment of ₹511 crore, fulfilment of certain other conditions and execution of definitive agreement(s), the company said.
The company said the Insolvency and Bankruptcy Code (IBC) proceedings will stand withdrawn once all the conditions of the settlement terms are fulfilled. Jaiprakash Power Ventures had earlier disclosed the initiation of IBC proceedings on February 27, 2026.
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Back in May this year, Adani Power Ltd had announced that it had entered into definitive agreements with Jaiprakash Associates as part of the implementation of the NCLT-approved resolution plan. Adani Power will acquire a 24% stake in Jaiprakash Power Ventures, held by Jaiprakash Associates, for a cash consideration of ₹2,993.59 crore.
The company will also acquire a 180 MW Thermal Power plant located in Uttar Pradesh’s Churk, along with its related assets, for a cash consideration of ₹1,200 crore. The assets include an 11.49% stake in Prayagraj Power Generation Co. Ltd.
The transaction is part of the broader resolution plan that was upheld by the National Company Law Appellate Tribunal (NCLAT) on May 4, following the NCLT approval in March.
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Jaiprakash Power Ventures Ltd is engaged primarily in the business of thermal and hydro power generation, and also has coal mining, sand mining and cement grinding. JPVL presently owns and operates three Power plants with an aggregate capacity of 2,220 MW, a 2 MTPA Cement Grinding Unit and a 3.92 MTPA Coal Mine.
Shares of Jaiprakash Power Ventures Ltd ended at ₹15.35, up by ₹0.070, or 0.46%, on the BSE.
First Published: Sept 20, 2026 8:38 AM IST