Ahmedabad, May 21: Adani Ports and Special Economic Zone Limited (APSEZ) announced on Thursday that it has entered into a contract with Jaypee Associates Limited (JAL) for the acquisition of JP Fertilizer and Industries Limited (JFIL) for ₹1,500 crore, following the resolution plan approved by the NCLT.
In a regulatory filing, the Adani Group company stated that it has signed a share purchase agreement with JAL to acquire 100% ownership of JFIL, which is the holding company of Kanpur Fertilizers and Chemicals Limited (KFCL).
The filing indicated that this acquisition will grant APSEZ indirect control over KFCL, which owns approximately 243 acres of industrial and commercial land in Kanpur. This land is considered strategically important for the development of logistics parks and warehousing facilities.
According to APSEZ, this transaction aligns with its strategy to strengthen inland logistics operations in Northern India and expand service capabilities.
Furthermore, this acquisition supports the company’s broader goal of increasing its multi-modal logistics park (MMLP) network from 12 to 16 by 2031 and nearly quadrupling its storage capacity.
This acquisition is being executed under the approved resolution plan presented by Adani Enterprises Limited for the debt-laden JAL, with APSEZ acting as one of the implementing entities.
The transaction is expected to be completed on the effective date of the resolution plan, which is anticipated to occur within 90 days of the NCLT’s approval on March 17, 2026.
Notably, the Competition Commission of India approved this transaction in August 2025, and the National Company Law Appellate Tribunal (NCLAT) upheld the resolution plan in May 2026.
Additionally, Adani Power announced that it has entered into agreements with JAL to acquire a 24% stake in Jaypee Power Ventures Limited (JPVL) and the 180 MW Churk Thermal Power Plant in Uttar Pradesh.
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