The Adani Group is reportedly planning to bid for the Jaypee Group’s real estate portfolio. This potential acquisition, which is currently under review in insolvency proceedings, could see Adani invest up to $1 billion to acquire Jaypee’s different assets, which include apartment complexes, villas, and golf courses, according to a Mint report citing familiar sources.
The Jaypee Group is currently entangled in one of India's largest bankruptcy cases, with over Rs 50,000 crore in outstanding bank loans. The Adani Group is preparing to submit a substantial bid, which is anticipated to be part of a “comprehensive packaged offer” designed to address the demands of creditors involved in the insolvency proceedings of Jaiprakash Associates Ltd., the flagship company of the Jaypee Group, according to the report.
Sources told the publication that a successful acquisition could lead to a four-fold expansion of Adani’s real estate operations. This move aligns with Adani’s broader strategy to diversify investments and strengthen its presence across key sectors. In addition to the real estate assets, which include a range of high-value properties such as apartment complexes, villas, and golf courses, Adani has also shown interest in Jaypee’s cement business.
“As a resolution package, Adani may offer around Rs 15,000 crore in total to the lenders to take over two businesses of Jaypee Group—real estate and cement," sources added in the report.
The Jaypee Group’s real estate assets have several high-profile projects across the Delhi-NCR region which is a growing real estate area. Acquiring these assets would enhance Adani’s portfolio and potentially increase its market share in the real estate sector. Adani manages the majority of its real estate ventures through two family-owned entities: Adani Properties and Adani Realty.
Meanwhile, for Jaypee Group, the sale could offer crucial relief to its creditors and help address its substantial debt obligations to them.