JP Power Share Price: Power stock dips over 3% amid delay in parent company’s debt resolution plan

Share Price : Shares of Jaiprakash Power Ventures fell over 2 per cent in Tuesday’s trading session (September 9). The stock declined as much as 3.59 per cent, hitting an intra-day low of Rs 19.31 apiece on the BSE. Concerns over parent firm's asset acquisition The decline comes after reports of a delay in the debt resolution plan of the parent company. The Committee of Creditors (CoC) is expected to take nearly two months to finalise the plan. Even after CoC approval, the process will still require clearance from the NCLT, which could take an additional 8–10 months. Recently, Vedanta outbid the Adani Group with a Rs 17,000-crore proposal to acquire the assets of the bankrupt firm, which faces claims of about Rs 59,000 crore from its creditors.