May 18, 2026
Ambuja Cements, a subsidiary of the Adani Group, has emerged as the sole remaining bidder for bankrupt Jaypee Cement Corporation, according to a news report published on 2026-05-18. The company submitted a US$60m offer to acquire the affiliate of Jaypee Associates. My Home Group, which had previously submitted a US$30m bid, has since withdrawn from the process.
Sources cited by the Economic Times indicate that the Ambuja offer is significantly lower than the US$83m liquidation value assigned to Jaypee Cement. In response, lenders are reportedly in discussions with the Adani Group, seeking an increase in the bid amount. The Adani Group has not yet issued a public response to the…