Adani Ports and Special Economic Zone Ltd (APSEZ) announced the signing of a definitive agreement to purchase Jaypee Fertilizers & Industries Ltd (JFIL) for Rs 1,500 crore. This acquisition is part of the NCLT-approved resolution plan for Jaiprakash Associates Ltd (JAL). The agreement involves acquiring 100% shareholding in JFIL, the holding company of Kanpur Fertilizers and Chemicals Ltd (KFCL).
The acquisition will grant APSEZ indirect control over KFCL, which possesses approximately 243 acres of industrial and commercial land in Kanpur. This land is strategically positioned for the potential development of a logistics park and warehousing facilities. APSEZ stated that this move aligns with its strategy to enhance inland logistics operations and broaden service capabilities in north India.
This transaction is in line with Adani Ports’ goal to strengthen its multi-modal logistics park (MMLP) network from 12 to 16 and expand warehousing capacity nearly fourfold by 2031. The acquisition is part of the approved resolution plan presented by Adani Enterprises Ltd for the financially distressed JAL, with APSEZ playing a role as one of the implementing entities.
The completion of the acquisition is anticipated to occur on the effective date specified in the resolution plan, expected within 90 days following the NCLT approval granted on March 17, 2026. Notably, the Competition Commission of India approved the transaction in August 2025, while the National Company Law Appellate Tribunal (NCLAT) upheld the resolution plan in May 2026.
Adani Power also revealed that it has finalized agreements with JAL to acquire a 24% stake in Jaiprakash Power Ventures Ltd (JPVL) along with the 180 MW Churk thermal power plant in Uttar Pradesh. Adani Ports’ shares experienced a 1.24% increase on Thursday, reaching an intraday high of Rs 1,795.50 per share on the BSE.
