Vedanta's ₹17,000 crore bid for JAL awaits CCI nod
Vedanta is looking to take over Jaiprakash Associates (JAL), a company that's been stuck in insolvency since June last year.
After outbidding the Adani Group with a ₹12,505 crore offer, Vedanta now needs approval from India's Competition Commission (CCI) before anything is official.
The plan includes paying off JAL's debts through a mix of upfront cash and annual payouts.
What's in Vedanta's bid for JAL
Vedanta's bid involves an initial ₹3,800 crore payment plus yearly installments of ₹2,500-3,000 crore for five years, possibly totaling around ₹17,000 crore.
JAL owes creditors over ₹57,000 crore—so this acquisition is a big move in the real estate and construction space.
While some analysts flagged risks for Vedanta, the company says this won't hurt competition in India.
Now it all comes down to CCI's decision.