Vedanta Seeks CCI Approval for ₹17,000 Crore Jaiprakash Associates Bid
Vedanta has submitted a bid of ₹17,000 crore for the acquisition of Jaiprakash Associates (JAL), which has interests in real estate, cement, hospitality, and EPC. The proposal includes ₹3,800 crore upfront and annual payments of ₹2,500–3,000 crore over the next five years.
VedantaJaiprakash AssociatesCciReal EstateInsolvency And Bankruptcy CodeReal EstateSep 14, 2025
Vedanta has reportedly offered ₹17,000 crore for JAL, which has interests spanning real estate, cement, hospitality, engineering, procurement, and construction. The proposal includes ₹3,800 crore upfront and ₹2,500–3,000 crore annually over the next five years, taking the net present value of the offer to ₹12,505 crore.
In its submission to CCI, Vedanta stated that its proposal “is not likely to cause any appreciable adverse effect on competition in India.” This is a crucial step in the acquisition process, as the Supreme Court has ruled that under the provisions of the Insolvency and Bankruptcy Code (IBC), competition clearance is mandatory before the submission of a resolution plan.
Before Vedanta, Adani Group and Dalmia Bharat had also sought CCI approval for their bids for JAL. However, neither of those bids progressed. Earlier this year, as many as 25 companies had shown interest in acquiring JAL’s stressed assets. By June, only five bids were submitted—by Adani Enterprises, Dalmia Bharat Cement, Vedanta Group, Jindal Power, and PNC Infratech.
Except for Adani, the bids were conditional. The companies had linked higher valuations to JAL’s prized asset, the Jaypee International Sports City, located near the upcoming Jewar International Airport. However, the land, allocated by the Yamuna Expressway Industrial Development Authority (YEIDA), was later withdrawn over environmental concerns. The matter is now before the Supreme Court.
To maximize value, JAL’s Committee of Creditors (CoC) decided to conduct a challenge process, where only Adani and Vedanta participated. Vedanta eventually emerged as the top bidder, outpacing Gautam Adani’s port-to-power conglomerate. This acquisition, if approved, could significantly bolster Vedanta's portfolio in the real estate and construction sectors, aligning with its broader strategy to diversify and expand its business interests in India.
Frequently Asked Questions
What is the total bid amount Vedanta has offered for Jaiprakash Associates?
Vedanta has offered a total of ₹17,000 crore for the acquisition of Jaiprakash Associates.
What are the key components of Vedanta's bid for JAL?
The bid includes ₹3,800 crore upfront and annual payments of ₹2,500–3,000 crore over the next five years, with a net present value of ₹12,505 crore.
Why is CCI approval necessary for Vedanta's bid?
CCI approval is mandatory under the Insolvency and Bankruptcy Code (IBC) to ensure that the acquisition does not cause any appreciable adverse effect on competition in India.
What other companies showed interest in acquiring JAL's assets?
Other companies that showed interest include Adani Group, Dalmia Bharat Cement, Jindal Power, and PNC Infratech.
What is the current status of the Jaypee International Sports City project?
The land for the Jaypee International Sports City was withdrawn by the Yamuna Expressway Industrial Development Authority (YEIDA) over environmental concerns, and the matter is now before the Supreme Court.
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