Jaiprakash Power Ventures Limited has disclosed a significant development involving its promoter company, Jaiprakash Associates Limited (JAL). JAL has entered into a definitive agreement to transfer its 24% shareholding in Jaiprakash Power Ventures to Adani Power Limited (APL) for a consideration of ₹2,993,59,08,147.6.
The agreement, dated 20th May 2026, is part of the implementation of an approved resolution plan submitted by Adani Enterprises Limited. This plan was sanctioned by the National Company Law Tribunal (NCLT), Allahabad Bench, on 17th March 2026, with a subsequent rectification order issued on 8th May 2026.
The transaction involves a Share Sale and Purchase Agreement between JAL and APL, resulting in the transfer of 24% voting rights from JAL to APL. This transfer marks a significant shift in the control dynamics of Jaiprakash Power Ventures, although the company itself is not a party to the agreement.
It is noteworthy that the transaction does not constitute a related party transaction, as APL is not related to JAL or Jaiprakash Power Ventures at the time of this agreement.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).