$JPPOWER

Jaiprakash Power Ventures surged 20 percent today after Adani Power acquired a 24 percent stake in the company. The stock hit its upper circuit limit at Rs 22.95 per share on the NSE. In a regulatory filing, the company said that a Share Sale and Purchase Agreement has been signed between Jaiprakash Associates and Adani Power for the transfer of a 24 percent stake in Jaiprakash Power Ventures. The transaction value for the stake acquisition is nearly Rs 2,993.6 crore. Earlier, Adani Power had announced that it entered into definitive agreements to acquire the 24 percent stake in Jaiprakash Power Ventures along with certain thermal assets from Jaiprakash Associates for a total consideration of about Rs 4,193.59 crore. According to the company, Rs 2,993.60 crore has been allocated for the stake purchase in Jaiprakash Power Ventures, while Rs 1,200 crore will be paid for Jaiprakash Associates’ 180 MW thermal power plant in Churk and related assets, including its 11.49 percent stake in Prayagraj Power Generation Company Ltd. On March 19, 2026, Adani Power had informed stock exchanges that it had expressed in-principle interest in becoming one of the implementing entities under the NCLT-approved resolution plan for Jaiprakash Associates.