Adani Ports and Special Economic Zone Ltd (APSEZ) announced the acquisition of a 100% stake in Jaypee Fertilizers & Industries from Jaiprakash Associates for ₹1,500 crore, as part of the NCLT-approved resolution plan for JAL. According to the regulatory filing, the acquisition will further consolidate the company's inland logistics presence and service capabilities in North India. The deal involves Jaypee Fertilizers & Industries Limited (JFIL), which serves as the holding company of Kanpur Fertilizers and Chemicals Limited (KFCL). As reported by ETInfra, the all-cash acquisition will give APSEZ indirect control over Kanpur Fertilisers and Chemicals Ltd, a step-down subsidiary of JFIL that owns around 243 acres of industrial and commercial land in Kanpur.
The acquisition provides APSEZ with 243 acres of strategically located land in Kanpur, which is ideal for developing world-class logistics park and warehousing facilities aligned with the company's logistics business. As reported by ETInfra, the land parcels are positioned to support the company's expansion plans in the region. JFIL, incorporated in 2010, operates in fertiliser and chemical-related businesses, both directly and through investments in group entities. The company reported standalone turnover of ₹25,000 in FY24 and ₹2,000 in FY25. The land parcel is considered strategically important for APSEZ's logistics expansion plans, with the company aiming to develop a large logistics park and warehousing hub at the site.
The acquisition timeline is set with the resolution plan approved by the National Company Law Tribunal, Allahabad bench on March 17, 2026, and further upheld by the National Company Law Appellate Tribunal on May 04, 2026. According to the regulatory filing, the acquisition is expected to be consummated on the 'effective date' under the approved resolution plan, which will not be later than 90 days from March 17, 2026. The Competition Commission of India approval was obtained on August 26, 2025. Earlier this year, the National Company Law Tribunal approved the Adani Group's ₹14,535-crore resolution plan for Jaiprakash Associates after lenders backed the proposal over a rival bid from Vedanta.
The acquisition aligns with APSEZ's ambitious expansion plans to expand its MMLP (Multi-Modal Logistics Park) network from 12 to 16 and warehousing capacity by 4X by 2031. As reported by ETInfra, the deal will strengthen the country's largest private port operator's inland logistics presence and service capabilities in North India. The strategic addition of Kanpur's industrial land parcels will support the company's logistics infrastructure development across multiple sectors. The transaction is expected to be completed within 90 days from the March 17, 2026, NCLT approval date, in line with the approved resolution plan.
