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Adani Acquires Infra Firm for ₹14,535 Crore
18 Mar
Summary
- Gautam Adani's firm secured the company through a ₹14,535 crore bid.
- The acquisition offers indirect exposure to JP Power through its holding structure.
- Investor interest is high due to potential promoter backing and look-through value.
In November last year, Gautam Adani's business group finalized the acquisition of a bankrupt infra company. The approved resolution plan involved a payment of ₹14,535 crore, with Adani Enterprises surpassing Vedanta and Dalmia Bharat in the bidding process.
The holding structure of the acquired company, where Jaiprakash Associates holds a stake in JP Power, means the acquirer gains indirect exposure to JP Power as well. This aspect has particularly attracted investor attention.
Market participants are witnessing aggressive buying interest, driven by the anticipation of a stronger promoter backing entering the company's ecosystem. This 'look-through value' is perceived by investors as a significant positive trigger for the acquisition.
