Merger News: The company that rules Noida will merge with Adani Group – CCI approves

Adani has taken another big step. Now the Competition Commission of India (CCI) has approved the purchase of Jaiprakash Associates Limited (JAL). Jaiprakash Associates Limited (JAL) is a company drowned in heavy debt. It owes about ₹ 57,185 crore. Corporate Insolvency Resolution Process (CIRP) is going on against the company. Now Adani Group (Adani Enterprises Ltd and Adani Infrastructure & Developers) is taking 100% stake.

Jaiprakash Associates (JAL) is spread across many sectors:

Infrastructure and construction

Cement plants (in Madhya Pradesh and Uttar Pradesh)

Real estate projects:

Jaypee Greens (Greater Noida)

Wishtown (Noida)

Jaypee International Sports City (near Jewar Airport)

Hospitality business: 5 hotels (Delhi-NCR, Mussoorie, Agra)

Power and toll business: Investments in Jaiprakash Power Ventures, Yamuna Expressway Tolling Ltd etc.

Adani Group will get JAL’s cement plants, real estate projects and hotels-Adani’s real estate and infrastructure presence in NCR (Noida–Greater Noida–Jewar Airport Zone) will be strengthened.

Adani will also become a more powerful player in the cement business after Ambuja and ACC. Creditors (the largest of which is NARCL) will get a way to recovery from this deal.

Jayprakash Group was already in debt and many of its projects (up to 20,000 flats) were stuck in limbo. Suraksha Group had already bought Jaypee Infratech.

Now Adani buying JAL is a step to “restart” the rest of the group’s businesses. Adani Group is gradually expanding its reach in every sector. Now Adani’s dominance can deepen in real estate, hotels and cement as well.