Shares of Jaiprakash Power Ventures Ltd (JP Power) were in focus on Thursday, November 20, rising over 9% to ₹22.15 after a major development in the insolvency proceedings of its parent company, Jaiprakash Associates Ltd (JAL).
The rally came after Adani Enterprises Limited (AEL) confirmed that it has received a Letter of Intent (LOI) from the Resolution Professional of JAL on November 19, 2025, at 3:05 pm, signalling formal approval of its resolution plan by the Committee of Creditors (CoC).
What the resolution plan means
JAL, currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, is involved in a wide range of businesses, including:
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Engineering & Construction
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Cement
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Power
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Real Estate
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Fertilisers
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Hospitality
The CoC’s approval assigns AEL the responsibility of reviving JAL through its proposed restructuring plan.
Next steps: NCLT approval awaited
Implementation of the resolution plan will depend on approvals from:
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National Company Law Tribunal (NCLT), Allahabad Bench, Prayagraj
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Other statutory and regulatory authorities
AEL has stated that the plan may be executed through any Adani Group entity, promoter group company, or a special purpose vehicle created for the transaction.
Why the stock rallied
The market reacted positively to:
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Clarity over JAL’s insolvency resolution
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Adani Group’s entry, viewed as a strong stabilising force
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Expectations of debt restructuring and revival prospects
As of the morning session on Thursday, JP Power shares were trading up 9.27%, extending their recent positive momentum.
