Jaypee Cement Assets Up for Bids in Major Insolvency Process
Debt-laden Jaypee Cement Corporation Limited (JCCL) has formally invited bids for its revival, kicking off a corporate insolvency resolution process (CIRP) that could reshape India’s cement sector. The resolution professional (RP) issued a detailed Expression of Interest (EoI) notice, offering the company’s 1.2 million-tonne cement capacity and allied assets to potential investors.
Key Assets on Offer
Cement Units: - Shahabad Grinding Unit (Karnataka) with 60MW captive power plant - Chunar Cement Factory (UP) - Prayagraj Blending Unit (UP)
Ancillary Facilities: - Heavy Engineering Workshop (Rewa, MP) - Asbestos plants (1,00,000 TPA capacity each)
Financial Snapshot: - FY24 Revenue: ₹30.03 Crores - Workforce: 349 employees
Critical Timelines for Bidders
| Milestone | Deadline | |---------------------------|--------------------| | EoI Submission | August 25, 2025 | | Provisional Bidder List | September 4, 2025 | | Resolution Plan Submission| October 24, 2025 |
Strategic Significance
Jaypee Cement assets—spread across Uttar Pradesh, Karnataka, and Madhya Pradesh—offer geographic diversification in a cement market projected to grow at 8% CAGR through 2030. Its captive power plant and grinding units are seen as high-value additions for established players seeking capacity expansion.
Deepika Bhugra Prasad is the resolution professional in the case. “All bid documents, including financial statements and creditor lists, are accessible on our portal. We expect strong interest from domestic and global cement majors,” reads the invitation for EoI.
Jaypee Cement, part of the crisis-hit Jaypee Group, entered insolvency following loan defaults. Its parent company, Jaiprakash Associates Limited, is undergoing separate resolution at the National Company Law Tribunal (NCLT). Creditors have filed claims totaling Rs 57,185 crore. Several companies, including Adani Enterprises, Dalmia Cement (Bharat) Ltd, Vedanta, Jindal Power, and PNC Infratech, have filed notices with the Competition Commission of India (CCI) to participate in the bidding process.
The group’s another entity, Jaypee Infratech, has been acquired by Suraksha Realty through the corporate insolvency resolution process.
