&w=3840&q=100)
Adani group leads race to acquire Jaiprakash Associates with ₹12,500 cr bid
Ruchika Chitravanshi Dev Chatterjee New Delhi/Mumbai
Listen to This Article
The Adani group has emerged the frontrunner to acquire Jaiprakash Associates Ltd (JAL), which is currently undergoing insolvency proceedings, with a bid of up to ₹12,500 crore, people familiar with the matter said on Thursday. The conglomerate has proposed more than ₹8,000 crore as an upfront payment without any preconditions, they said.
Rival bidder Dalmia group is also in the fray and is willing to top Adani's offer — provided a key legal hurdle related to JAL's Sports City project is resolved. The case is currently pending before the Supreme Court.
In March, the Allahabad High Court upheld a decision
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
6 hours ago
- Time of India
Adani Ent Share Price Live Updates: Adani Enterprises reports robust performance
25 Jul 2025 | 09:04:39 AM IST Join us on the Adani Ent Stock Liveblog, your hub for real-time updates and comprehensive analysis on a prominent stock. Stay in the know with the latest information about Adani Ent, including: Last traded price 2608.0, Market capitalization: 301056.5, Volume: 486, Price-to-earnings ratio 42.41, Earnings per share 61.51. Our liveblog provides a well-rounded view of Adani Ent by incorporating both fundamental and technical indicators. Be the first to receive breaking news that can impact Adani Ent's performance in the market. Our expert analysis and recommendations empower you to make informed investment choices. Stay informed and stay ahead with the Adani Ent Stock Liveblog. The data points are updated as on 09:04:39 AM IST, 25 Jul 2025 Show more
Economic Times
15 hours ago
- Economic Times
Adani to partner with MetTube for copper tubes business
Adani group flagship company will divest 50 per cent of its copper tubes business to MetTube, while simultaneously acquiring a 50 per cent stake in MetTube's Indian unit, the company said on two firms will collaborate to manufacture copper tubes used in air conditioning, renewable energy, and smart construction applications. "Adani Enterprises Ltd (AEL) has entered into a share purchase and shareholders agreements with MetTube Mauritius Private Limited (MetTube)," the firm said in a statement."Under the agreement, Adani Enterprises will divest a 50 per cent stake in its wholly owned subsidiary, Kutch Copper Tubes Limited, to MetTube. Additionally, Adani Enterprises will invest 50 per cent in MetTube Copper India Private Limited, which is a wholly owned subsidiary of MetTube and operates a plant near Ahmedabad in Gujarat," the statement is aimed at delivering next-generation solutions to the heating, ventilation, and air conditioning (HVAC) industry through their facilities, the Adani group firm said, adding that the alliance is aimed at reducing India's dependence on imported copper tubes and building a robust domestic ecosystem for copper-based applications. The company did not disclose financial details of the a part of the diversified Metdist Group, brings decades of global experience in manufacturing high-performance copper tubes. Adani Enterprises, through its wholly owned subsidiaries, has already established advanced copper manufacturing infrastructure in Mundra, Gujarat, including the greenfield copper tube facility under Kutch Copper Tubes Limited (KCTL)."The dual investment structure ensures equal ownership and shared governance, enabling both entities to co-create a future-ready copper tube business, keeping in mind India's vision of improving energy efficiency and reducing carbon emissions," the statement Group director Jeet Adani said the partnership with MetTube is a strategic leap towards making India self-reliant in copper tube manufacturing. "By combining Adani's infrastructure and operational excellence with MetTube's global expertise, we are not just building capacity - we are building capability.""India's copper tube demand is growing rapidly, and this alliance strengthens our commitment to the 'Make in India' vision with globally benchmarked manufacturing. Together with Adani, we aim to deliver high-quality, locally manufactured Inner Grooved copper tubes that meet international standards. This partnership reflects our shared ambition for sustainable growth and innovation," Apurv Bagri, Chairman of Metdist Group, alliance leverages Adani's forward-integrated copper ecosystem - anchored by its 0.5 million tonnes per annum copper refinery project in Mundra - and MetTube's global manufacturing and marketing expertise. "This synergy will enable scale and speed in copper tube production, besides supporting India's green infrastructure goals by supplying high-performance copper tubes for HVAC, renewable energy, and smart construction applications. The copper tubes produced will cater to critical sectors such as air conditioning, refrigeration, and plumbing, where demand is surging due to urbanisation and climate-responsive infrastructure needs," the statement added.
NDTV
17 hours ago
- NDTV
Adani Enterprises To Partner With MetTube For Copper Tubes Business
New Delhi: Adani group flagship company will divest 50 per cent of its copper tubes business to MetTube, while simultaneously acquiring a 50 per cent stake in MetTube's Indian unit, the company said on Thursday. The two firms will collaborate to manufacture copper tubes used in air conditioning, renewable energy, and smart construction applications. "Adani Enterprises Ltd (AEL) has entered into a share purchase and shareholders agreements with MetTube Mauritius Private Limited (MetTube)," the firm said in a statement. "Under the agreement, Adani Enterprises will divest a 50 per cent stake in its wholly owned subsidiary, Kutch Copper Tubes Limited, to MetTube. Additionally, Adani Enterprises will invest 50 per cent in MetTube Copper India Private Limited, which is a wholly owned subsidiary of MetTube and operates a plant near Ahmedabad in Gujarat," the statement added. This is aimed at delivering next-generation solutions to the heating, ventilation, and air conditioning (HVAC) industry through their facilities, the Adani group firm said, adding that the alliance is aimed at reducing India's dependence on imported copper tubes and building a robust domestic ecosystem for copper-based applications. The company did not disclose financial details of the transaction. MetTube, a part of the diversified Metdist Group, brings decades of global experience in manufacturing high-performance copper tubes. Adani Enterprises, through its wholly owned subsidiaries, has already established advanced copper manufacturing infrastructure in Mundra, Gujarat, including the greenfield copper tube facility under Kutch Copper Tubes Limited (KCTL). "The dual investment structure ensures equal ownership and shared governance, enabling both entities to co-create a future-ready copper tube business, keeping in mind India's vision of improving energy efficiency and reducing carbon emissions," the statement said. Adani Group director Jeet Adani said the partnership with MetTube is a strategic leap towards making India self-reliant in copper tube manufacturing. "By combining Adani's infrastructure and operational excellence with MetTube's global expertise, we are not just building capacity - we are building capability." "India's copper tube demand is growing rapidly, and this alliance strengthens our commitment to the 'Make in India' vision with globally benchmarked manufacturing. Together with Adani, we aim to deliver high-quality, locally manufactured Inner Grooved copper tubes that meet international standards. This partnership reflects our shared ambition for sustainable growth and innovation," Apurv Bagri, Chairman of Metdist Group, said. The alliance leverages Adani's forward-integrated copper ecosystem - anchored by its 0.5 million tonnes per annum copper refinery project in Mundra - and MetTube's global manufacturing and marketing expertise. "This synergy will enable scale and speed in copper tube production, besides supporting India's green infrastructure goals by supplying high-performance copper tubes for HVAC, renewable energy, and smart construction applications. The copper tubes produced will cater to critical sectors such as air conditioning, refrigeration, and plumbing, where demand is surging due to urbanisation and climate-responsive infrastructure needs," the statement added.
