This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Adani’s Takeover Proposal for Jaiprakash Associates Gets Approved
November 20, 2025
Adani Enterprises’ INR 135bn ($1.53bn) takeover proposal for the insolvent Jaiprakash Associates has received unanimous backing by its creditors. Adani’s proposal was preferred over Vedanta’s higher INR 170bn ($1.9bn) bid due to Adani’s significantly larger upfront payment component. Despite Vedanta offering a bigger total amount, its five-year payment timeline compared poorly with Adani’s 1.5–2 year payout plan, which stakeholders viewed more favorably. Other bidders included Dalmia Bharat, Jindal Power, and PNC Infratech. Jaiprakash Associates, once a major infrastructure conglomerate, owes creditors INR 550bn ($6.2bn) and has been undergoing insolvency proceedings since June, making it one of India’s largest bankruptcy cases. With creditors voting in favor of Adani, the committee of creditors is expected to formalize the decision and submit it to the National Company Law Tribunal (NCLT) for approval. The National Asset Reconstruction Company (NARCL), which acquired much of the company’s debt from banks led by State Bank of India, is the largest claimant in the process.
Bonds of Adani and Vedanta were stable. For instance Adani’s 4.2% 2027s traded at 98.6, yielding 5.1% and Vedanta’s 11.25% 2031s were at 105.2, yielding 10.1%.
For more details, click here
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.