Home / Business and Economy / Adani Leads Revised Bids for Jaiprakash Associates' Distressed Assets
Adani Leads Revised Bids for Jaiprakash Associates' Distressed Assets
8 Aug
Summary
- Adani Enterprises and Dalmia Bharat are top bidders for Jaiprakash Associates' assets
- Bidders asked to submit unconditional bids by mid-August 2025
- Adani offers substantial upfront cash payment of ₹11,000 crore
As of August 8th, 2025, a second round of revised bids is likely for the assets of debt-ridden infrastructure company Jaiprakash Associates Ltd (JAL) from the existing players. The five bidders, including Puneet Dalmia-backed Dalmia Bharat and Gautam Adani's Adani Enterprises, have been asked to submit unconditional offers by mid-August.
Adani Enterprises has reportedly emerged as the top bidder, offering a substantial upfront cash payment of ₹11,000 crore and the remaining ₹3,000 crore once land-related litigations are cleared. Other bidders, such as mining mogul Anil Agarwal's Vedanta, Naveen Jindal-backed Jindal Power, and PNC Infratech, have also expressed willingness to revise their offers and submit fresh bids, with an expected upward revision of 10-15% at most.
The bidding process for Jaiprakash Associates' assets, which include power, cement, hospitality, Formula 1 racing track, golf course, stadium, and land parcels along the Yamuna Expressway, has been closely watched. The company's dues to banks and other financial institutions stand at nearly ₹55,400 crore, making it one of India's largest and keenly-watched corporate insolvency proceedings.
