JP Power shares rally nearly 30% in two days after Adani Group wins creditor nod for JP Associates acquisition
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Shares of Jaiprakash Power Ventures (JP Power) surged 11.75% to Rs 22.63 on Thursday, extending the previous day’s sharp 15% rise as investor sentiment improved following a major breakthrough in the Jaypee Group’s insolvency proceedings. In the last two trading sessions, JP Power shares have rallied nearly 30%. The rally comes after the Gautam Adani-led Adani Group secured approval from the Committee of Creditors (CoC) to acquire Jaiprakash Associates Ltd., the debt-ridden infrastructure and industrial conglomerate undergoing insolvency resolution. According to a regulatory filing made on Wednesday, Adani Enterprises confirmed that the creditors voted in favour of its resolution plan. The company stated it received a Letter of Intent (LoI) from the Resolution Professional on November 19, 2025. The deal is worth nearly $1.5 billion, Bloomberg reported, citing people in the know. ET could not independently verify this amount. Read The imple...