Adani Ports & Special Economic Zone (APSEZ) informed the stock exchange that it acquired a 100% stake in Jaypee Fertilisers & Industries Ltd (JFIL) from Jaiprakash Associates for Rs 1,500 crore under the insolvency resolution process approved by the National Company Law Tribunal (NCLT).
JFIL, incorporated in 2010, is engaged in fertiliser and chemical-related businesses. It also holds investments in group entities, including Jaypee Uttar Bharat Vikas Pvt Ltd and KFCL. According to its stock exchange filing, JFIL had reported a standalone turnover of Rs 25,000 in FY24 and Rs 2,000 in FY25.
The acquisition will be carried out through a share purchase agreement and completed entirely in cash, APSEZ said in its exchange filing.
JFIL is the holding company of Kanpur Fertilisers and Chemicals Ltd (KFCL), which owns nearly 243 acres of industrial and commercial land in Kanpur.
APSEZ said that JFIL’s land parcel is strategically located and suitable for developing a large-scale logistics park and warehousing facilities aligned with its inland logistics business.
APSEZ said the acquisition would strengthen its logistics footprint in Northern India and support its long-term target of expanding its multimodal logistics park (MMLP) network from 12 to 16 by 2031. APSEZ also plans to increase its warehousing capacity nearly fourfold during the same period.
The transaction forms part of the approved resolution plan for Jaiprakash Associates submitted by Adani Enterprises. The NCLT’s Allahabad bench had approved the resolution plan in March 2026, while the National Company Law Appellate Tribunal (NCLT) upheld the order in May 2026.
Earlier, lenders of Jaiprakash Associates had approved the Adani Group’s Rs 14,535 crore resolution plan despite a competing higher bid from Vedanta.
APSEZ stated it had already secured approval from the Competition Commission of India in August 2025 for the proposed transaction.