Adani Power to Acquire 24% Stake in Jaiprakash Power for ₹4,194 Crore

May 21, 2026

Ahmedabad: Adani Power on Thursday announced that it has entered into definitive agreements with Jaiprakash Associates to acquire a 24 percent stake in Jaiprakash Power Ventures and the 180 MW Churk thermal power plant in Uttar Pradesh, under the NCLT-approved resolution plan for Jaiprakash Associates Ltd. (JAL).

According to a stock exchange filing, Adani Power signed a Share Purchase Agreement to acquire JAL’s 24 percent holding in Jaiprakash Power Ventures Ltd for nearly ₹2,993.6 crore.

Churk Thermal Plant and Associated Assets Also Part of Deal

Separately, the company has entered into a Business Transfer Agreement to acquire the 180 MW Churk thermal power station located in Sonbhadra district of Uttar Pradesh for ₹1,200 crore.

The acquisition also includes associated assets such as an 11.49 percent stake in Prayagraj Power Generation Company Ltd. The total transaction value stands at ₹4,194 crore.

Adani Power stated that the deal is part of the resolution framework approved by the National Company Law Tribunal (NCLT), under which Adani Enterprises is the resolution applicant and Adani Power is acting as one of the implementing entities.

Regulatory Approvals Already Cleared for Transaction

The company said the acquisition would be completed in cash and is expected to close on the “effective date” specified under the resolution plan, subject to implementation timelines and regulatory approvals.

The Competition Commission of India (CCI) had already approved the transaction in August 2025, while the Allahabad Bench of the NCLT cleared the resolution plan in March 2026. The National Company Law Appellate Tribunal (NCLAT) later upheld the order in May 2026.

Jaiprakash Power Ventures currently operates thermal and hydropower assets with a combined capacity of 2,220 MW and also has interests in coal mining, sand mining and cement grinding businesses.