Adani Ports and Special Economic Zone Ltd on Thursday announced that it has signed a definitive agreement to acquire Jaypee Fertilisers & Industries Ltd for Rs 1,500 crore under the National Company Law Tribunal-approved resolution plan for Jaiprakash Associates Ltd.
In a regulatory filing, the company said it signed a share purchase agreement with Jaiprakash Associates to acquire 100 per cent shareholding in Jaypee Fertilisers & Industries Ltd, the holding company of Kanpur Fertilisers and Chemicals Ltd.
The acquisition will give Adani Ports indirect control over Kanpur Fertilisers and Chemicals Ltd, which owns nearly 243 acres of industrial and commercial land in Kanpur.
The company said the land is strategically suitable for developing logistics parks and warehousing facilities.
According to Adani Ports, the acquisition aligns with its strategy to strengthen inland logistics operations and expand service capabilities across north India.
The company also said the deal supports its long-term goal of increasing its multi-modal logistics park network from 12 to 16 and expanding warehousing capacity nearly fourfold by 2031.
The acquisition forms part of the approved resolution plan submitted by Adani Enterprises Ltd for debt-ridden Jaiprakash Associates, where Adani Ports is acting as one of the implementing entities.
The transaction is expected to be completed within 90 days from the National Company Law Tribunal approval granted on March 17, 2026, subject to implementation timelines under the resolution plan.
The Competition Commission of India approved the deal in August 2025, while the NCLAT upheld the resolution plan in May 2026.
Separately, Adani Power announced plans to acquire a 24 per cent stake in Jaiprakash Power Ventures and the Churk thermal plant in Uttar Pradesh.
Shares of Adani Ports and Special Economic Zone Ltd rose 1.24 per cent during Thursday’s trade.
To read more such news, download Bharat Express news apps
