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News18
07-07-2025
- Business
- News18
JP Power Share Price Jumps 15% on Monday: What's Fueling The Rally?
JP Power Share Price: JAL was taken to insolvency proceedings after the conglomerate defaulted on the payment of loans. JP Power And JP Associates Share Price: Shares of Jaiprakash Power Ventures (JP Power), a subsidiary of Jaypee Associates Limited (JAL), have climbed 15 per cent intraday in the morning session on Monday following reports that the Adani Group has emerged as the highest bidder to acquire Jaiprakash Associates (JP Associates). Stocks of JP Power were trading at Rs 21.78 apiece at 11:30 am. Meanwhile, Jaiprakash Associates Limited's shares also witnessed a rally to hit the 5% per cent upper circuit intraday on Monday. The trading halted in the stocks at Rs 3.19 apiece. JP Power is a smallcap company with a market capitalization of Rs 14,872 crore (as of July 07 till 11:30 am). The scrip opened at Rs 19 apiece, against the previous day close at Rs 18.95 apiece. On a year-to-date basis, shares of JP Power are up nearly 20 per cent. JP Associates Insolvency The troublesome Jaypee Associates Limited (JAL) was admitted into the Corporate Insolvency Resolution Process (CIRP) through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024. The company engages in real estate, cement, manufacturing, hospitality and engineering and construction. The company has a tax liability over Rs 57,185 crore. JAL was taken to insolvency proceedings after the conglomerate defaulted on the payment of loans. Gautam Adani-led conglomerate has made a bid of Rs 12,500 crore to acquire it, say reports. According to the report, Adani Group has proposed an upfront payment of more than Rs 8,000 crore without any preconditions. Jaypee Associates Limited (JAL) has investments in subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd and several other companies. Jaypee Group's Jaypee Infratech has already been acquired by Mumbai-based Suraksha Group through an insolvency process. Adani Enterprises, Vedanta Group, Dalmia Bharat Cement, Jindal Power and PNC Infratech are the lead runners in the acquisition of JP Associates Limited. About JP Group JP Group, officially known as the Jaypee Group, is an Indian industrial group founded by Jaiprakash Gaur. It has been involved in several key infrastructure and energy projects in India. The group is based in Noida, Uttar Pradesh. Their flagship firm Jaiprakash Associates Ltd (JAL) and subsidiary Jaypee Infratech Ltd (JIL) went into insolvency proceedings. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. About the Author Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18. First Published: July 07, 2025, 11:38 IST News business » markets JP Power Share Price Jumps 15% on Monday: What's Fueling The Rally?
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Business Standard
09-06-2025
- Business
- Business Standard
CoC extends Jaiprakash Associates resolution plan deadline to 24 June
The Committee of Creditors (CoC) for Jaiprakash Associates (JAL) has approved an extension for the submission of resolution plans, pushing the deadline to 24 June 2025. The decision was made in response to multiple requests from prospective resolution applicants (PRAs), the company said in a regulatory filing. Previously, under the Invitation for Expression of Interest (IEOI), JAL had set 9 June 2025 as the deadline for PRAs to submit their resolution plans. 'Upon requests received from several PRAs for extension of the current deadline of 9 June 2025 for submission of resolution plans, the members of the Committee of Creditors of the Corporate Debtor have approved with the requisite majority the extension of time for submission of Resolution Plans till 24 June 2025,' the company said. Insolvency proceedings and bidders JAL, the flagship company of the Jaypee Group, was admitted into the Corporate Insolvency Resolution Process (CIRP) by the National Company Law Tribunal (NCLT), Allahabad Bench, on 3 June 2024 after defaulting on loan repayments. A total of 25 companies have expressed interest in acquiring JAL. The list of prospective resolution applicants includes prominent names such as Adani Enterprises, Vedanta, and Patanjali Ayurveda. Other applicants include Dalmia Cement (Bharat) Ltd, Torrent Power Ltd, GMR Business & Consultancy LLP, Jaypee Infratech, Jindal Power Ltd, Jindal India Power, Kotak Alternate Asset Managers Ltd, Oberoi Realty, and PNC Infratech. Additional bidders are Authum Investment & Infrastructure; Consortium of Winro Commercial (India) and Parakh Advisors; Dickey Asset Management; India Opportunities XII Investments; J C Flowers Asset Reconstruction; Jaithari Thermal Power; Jakson Ltd; Oriental Structural Engineers; Paschim Sagar Properties; Rashmi Metaliks; Sherisha Technologies; Sigma Corporation (India) Ltd; and Winchain Infrastructures. Jaypee insolvency timeline Founded in 1979 by Jaiprakash Gaur, Jaiprakash Associates Limited operates across construction, power, real estate, hospitality, and infrastructure. Its subsidiary, Jaypee Infratech Limited (JIL), developed the Yamuna Expressway and was active in real estate in the National Capital Region before entering CIRP in August 2017 due to loan defaults. After prolonged legal proceedings and a monitoring committee's oversight, the Mumbai-based Suraksha Group emerged as the successful resolution applicant. The National Company Law Appellate Tribunal (NCLAT) approved Suraksha's plan on 24 May 2024. In early June 2024, Suraksha took control of JIL, appointed a three-member board, and injected ₹125 crore in equity to revive stalled housing projects. By August 2024, it had invested an additional ₹250 crore and secured a ₹3,000 crore loan to continue work on approximately 20,000 incomplete flats. Suraksha Group's subsidiary now manages JIL under the approved plan, while JAL continues its broader restructuring process.
