Adani Ports and Logistics Ltd, a logistics and integrated transport infrastructure arm of the Adani Group, has entered into a Share Purchase Agreement with Jaiprakash Associates Ltd (JAL) to acquire 100% shareholding in Jaypee Fertilizers & Industries Ltd (JFIL) for a cash consideration of ₹1,500 crore.
JFIL is the holding company of Kanpur Fertilizers and Chemicals Ltd (KFCL), which owns around 243 acres of land in Kanpur considered strategically suitable for developing a large logistics park and warehousing hub.
Acquisition part of JAL resolution plan
The acquisition forms part of the broader National Company Law Tribunal-approved corporate resolution plan for debt-ridden Jaiprakash Associates. The Competition Commission of India approved the transaction on August 26, 2025.
The approved resolution plan was cleared by the National Company Law Tribunal, Allahabad Bench, on March 17, 2026, and subsequently upheld by the National Company Law Appellate Tribunal on May 4, 2026.
Strengthens inland logistics network
According to the company, the acquisition will strengthen its inland logistics presence and enhance service capabilities across North India.
The proposed logistics and warehousing development aligns with Adani Ports and Logistics’ strategy to expand its multi-modal logistics park network from 12 to 16 locations and increase warehousing capacity nearly fourfold by 2031.
Completion expected within 90 days
The acquisition is expected to be completed within 90 days from March 17 under the approved resolution plan.
JFIL has a wholly owned subsidiary, Jaypee Uttar Bharat Vikas Pvt Ltd, along with step-down subsidiary KFCL.
The company reported a turnover of around ₹2,000 crore during FY25.