Adani Ports and Special Economic Zone on Thursday said it will acquire a 100 per cent stake in Jaypee Fertilisers & Industries Ltd from Jaiprakash Associates Limited (JAL) for Rs 1,500 crore as part of the NCLT-approved resolution plan for JAL.

The all-cash acquisition will give APSEZ indirect control over Kanpur Fertilisers and Chemicals Ltd, a step-down subsidiary of JFIL that owns around 243 acres of industrial and commercial land in Kanpur.

The land parcel is considered strategically important for APSEZ's logistics expansion plans, with the company aiming to develop a large logistics park and warehousing hub at the site.

The acquisition is expected to strengthen APSEZ's inland logistics network in North India and support its target of expanding its multimodal logistics park network from 12 to 16, while nearly quadrupling warehousing capacity by 2031.

Earlier this year, the National Company Law Tribunal approved the Adani Group's Rs 14,535-crore resolution plan for Jaiprakash Associates after lenders backed the proposal over a rival bid from Vedanta.

APSEZ said the acquisition is being carried out under the resolution plan submitted by Adani Enterprises, which was approved by the NCLT's Allahabad bench in March 2026 and later upheld by the National Company Law Appellate Tribunal in May 2026.

The company added that approval from the Competition Commission of India had already been secured in August 2025.

JFIL, incorporated in 2010, operates in fertiliser and chemical-related businesses, both directly and through investments in group entities. The company reported standalone turnover of Rs 25,000 in FY24 and Rs 2,000 in FY25.

APSEZ said the transaction is expected to be completed within 90 days from the March 17, 2026, NCLT approval date, in line with the approved resolution plan.

Source: ET Infra. Com 

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