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Vedanta leads the race to acquire debt-laden Jaiprakash Associates for Rs 17000 crore, surpassing other bidders in the insolvency process.
Vedanta leads the race to acquire debt-ridden Jayprakash Associates Limited.
Vedanta Share Price: Vedanta shares fell 1.46 per cent intraday on Monday to trade around Rs 439 apiece, after it emerged as a frontrunner in bidding to acquire debt-ridden Jaiprakash Associates (JAL) at the cost of Rs 17,000 crore, surpassing Adani Group and other bidders. The bid value translates into Jaiprakash Associates’ net present value of Rs 12,505 crore.
Meanwhile, Jaiprakash Associates Limited’s shares jumped 4.71 per cent intraday to trade at Rs 3.78 per share on…