Our Bureau
Ahmedabad
India’s largest private ports operator, Adani Ports and Special Economic Zone (APSEZ), announced on Thursday that it will acquire 100% stake in Jaypee Fertilizers & Industries Ltd (JFIL) from Jaiprakash Associates Limited for ₹1,500 crore. The deal is part of the National Company Law Tribunal (NCLT)-approved insolvency resolution plan for Jaiprakash Associates.
The acquisition, which will be completed in cash, gives APSEZ indirect control over Kanpur Fertilizers and Chemicals Ltd (KFCL), a step-down subsidiary of JFIL. KFCL owns approximately 243 acres of industrial and commercial land in Kanpur, Uttar Pradesh. This land is considered highly suitable for developing a large…