Adani Ports to acquire Jaypee Fertilizers for Rs 1,500 crore under JAL resolution
Ahmedabad, May 21
Adani Ports and Special Economic Zone Ltd on Thursday said it has signed a definitive agreement to acquire Jaypee Fertilizers & Industries Ltd for Rs 1,500 crore as part of the NCLT-approved resolution plan for Jaiprakash Associates Ltd.
In a regulatory filing, the Adani Group company said it has entered into a share purchase agreement with JAL to acquire 100 per cent shareholding in JFIL, which is the holding company of Kanpur Fertilizers and Chemicals Ltd (KFCL).
The acquisition would give APSEZ indirect control over KFCL, which owns around 243 acres of industrial and commercial land in Kanpur that is considered strategically suitable for the development of a logistics park and warehousing facilities, the filing said.
According to APSEZ, the transaction aligns with its strategy to strengthen inland logistics operations and expand service capabilities in north India.
The acquisition also supports the company's broader target of increasing its multi-modal logistics park (MMLP) network from 12 to 16 and expanding warehousing capacity nearly fourfold by 2031.
The acquisition is being undertaken under the approved resolution plan submitted by Adani Enterprises Ltd for debt-ridden JAL, where APSEZ is acting as one of the implementing entities.
The transaction is expected to be completed on the effective date under the resolution plan, which is expected within 90 days from the NCLT approval granted on March 17, 2026.
Notably, the Competition Commission of India had approved the transaction in August 2025, while the National Company Law Appellate Tribunal (NCLAT) upheld the resolution plan in May 2026.
Separately, Adani Power said it has entered into definitive agreements with JAL to acquire a 24 per cent stake in Jaiprakash Power Ventures Ltd (JPVL) and the 180 MW Churk thermal power plant in Uttar Pradesh.
Shares of Adani Ports on Thursday rose 1.24 per cent to hit an intraday high of Rs 1,795.50 apiece on the BSE.
— IANS
Reader Comments
My concern is about the fertilizer industry itself—are we losing domestic production capacity? With global food prices volatile, we need to ensure we don't become too dependent on imports for fertilizers. Hope this land conversion is balanced with other capacity additions.
Really smart strategic play by APSEZ. The 243 acres in Kanpur is prime real estate—right in the middle of the Ganga Expressway corridor. A logistics park there will connect UP's agricultural heartland to ports. This is what Make in India looks like on the ground! 🇮🇳
Adani Group is clearly executing a well-thought-out vertical integration strategy—ports, power, logistics, and now fertilizer assets. The synergy here is undeniable. But I hope the resolution of JAL's debts truly benefits small creditors and employees too, not just the acquiring giants.
I'm from Kanpur and let me tell you—the city has huge potential for warehousing and logistics. This land is near the industrial areas and highway. Local people will benefit from employment. But I just wish state government ensures proper environmental clearances and doesn't allow unchecked construction. 🙏
The Adani Group is becoming a monopoly in Indian infrastructure. First ports, then airports, now logistics parks everywhere. While efficiency is good, concentration of economic power is concerning for a democracy. Need strong regulation and competition oversight from CCI.
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