Jaiprakash Power Ventures Limited has announced that its promoter, Jaiprakash Associates Limited (JAL), has entered into a definitive agreement to transfer its 24% shareholding in the company to Adani Power Limited (APL). This transaction, valued at approximately ₹2,993.59 crore, follows the implementation of an approved resolution plan. The transfer will result in the shift of voting rights associated with this stake to the new purchaser, Adani Power Limited.
Strategic Share Transfer
Following the resolution plan approved by the National Company Law Tribunal (NCLT), Jaiprakash Power Ventures Limited has been notified of a significant change in shareholding structure. The promoter company, Jaiprakash Associates Limited, has executed a Share Sale and Purchase Agreement to divest its 24% equity stake in the company.
Deal Details and Valuation
The definitive agreement, executed on May 20, 2026, facilitates the transfer of these shares to Adani Power Limited for a total consideration of ₹2,993,59,08,147.6. This transaction is a critical component of the broader resolution process mandated by the court order dated March 17, 2026, and its subsequent rectification on May 8, 2026.
Impact on Management and Control
As a direct consequence of this agreement, the 24% voting rights previously held by the promoter will be transferred to Adani Power Limited. The company has clarified that this transaction constitutes an arms-length sale of existing shares rather than a new issuance, and the purchaser maintains no prior relationship with the promoter company.
Source: BSE
