Jaypee Cement Assets Up for Bids in Major Insolvency Process
Debt-ridden Jaypee Cement Corporation Limited (JCCL) has initiated a corporate insolvency resolution process (CIRP), inviting bids for its 1.2 million-tonne cement capacity and associated assets. This move could significantly reshape India’s cement sector.
Cement SectorInsolvencyCorporate ResolutionJaypee GroupAsset SaleReal EstateAug 10, 2025
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.
Frequently Asked Questions
What is the corporate insolvency resolution process (CIRP)?
The Corporate Insolvency Resolution Process (CIRP) is a legal framework under the Insolvency and Bankruptcy Code (IBC) in India. It is designed to revive or liquidate a corporate debtor, ensuring that the company can either continue operations under a new management or be liquidated to pay off creditors.
What are the key assets of Jaypee Cement Corporation Limited (JCCL)?
Key assets of JCCL include the Shahabad Grinding Unit in Karnataka with a 60MW captive power plant, the Chunar Cement Factory in UP, the Prayagraj Blending Unit in UP, a Heavy Engineering Workshop in Rewa, MP, and Asbestos plants with 1,00,000 TPA capacity each.
What is the financial snapshot of JCCL for FY24?
For FY24, JCCL reported a revenue of ₹30.03 Crores and employed 349 people.
What is the expected timeline for the bidding process?
The timeline for the bidding process includes EoI submission by August 25, 2025, provisional bidder list by September 4, 2025, and resolution plan submission by October 24, 2025.
Which companies have shown interest in the Jaypee Cement assets?
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.
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