JP Power Rallies as NCLT Backs Adani’s ₹14,535 Crore Deal

The stock price of Jaiprakash Power Ventures Limited is surging. On Wednesday, JP Power soared to ₹15.63, up by nearly 12% from the previous closing price of ₹13.98. Based on the stock’s current value of ₹15.09, JP Power gained 11.12% over the past five trading days.

NCLT Approval of Adani Resolution Plan

The JP Power’s stock rallies following the pronouncement of a corporate insolvency resolution  involving the company’s parent group.  

The National Company Law Tribunal (NCLT) on Tuesday approved the ₹14,535 crore resolution plan submitted by Adani Enterprises to acquire the bankrupt Jaiprakash Associates Limited (JAL). The NCLT orally pronounced the order that greenlighted Adani’s resolution plan dated October 14, 2025.

Delisting from Stock Exchanges

In a regulatory filing, Sam Nath Grover, JAL vice president and company secretary, said that subject to the approval of the NCLT, the company’s securities stand to be delisted from stock exchanges as an integral part of the approved resolution plan.

“All necessary actions in relation to give effect to the Delisting shall be undertaken immediately on the NCLT Approval in accordance with applicable law, and the resolution professional of the Corporate Debtor, Insolvency Professional, relevant stock exchanges and other stakeholders shall reasonably cooperate and provide assistance to the Successful Resolution Applicant in this regard,” the filing stated.

Substantial Stake in JP Power

The other companies that submitted resolution plans are the Dalmia Bharat Group, PNC Infrastructure, Vedanta and Jindal Steel & Power, but Adani won the approval of JAL creditors for its ₹14,535 crore acquisition proposal.

With the development, Adani will have access to JAL’s major assets, which include a 24% stake in JP Power.

 “With JAL carrying a massive debt of over  ₹57,000 crore, JP Power can benefit from better management with Adani, deep pockets for expansion and easier access to cheaper loans,” said Bonanza research analyst Balaji Rao Mudili, according to Mint.