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Vedanta wins JAL bid with ₹17,000 crore offer
Vedanta just beat out Adani to win the takeover of Jaiprakash Associates Ltd (JAL) for ₹17,000 crore.
The decision came down at a lenders' meeting on September 5.
JAL is currently in insolvency because of unpaid loans—lenders are claiming over ₹57,000 crore—and operates across real estate, cement, and power.
JAL owns big projects like Jaypee Greens
JAL owns big projects like Jaypee Greens in Greater Noida and the International Sports City near Jewar Airport.
It also has cement plants (though not running right now) and hotels across Delhi-NCR, Mussoorie, and Agra.
JAL entered insolvency back in June 2024; now Vedanta's offer will go to the National Company Law Tribunal for approval.