Jaiprakash Associates shares were officially delisted from the BSE and NSE on June 18, 2026, marking the closure of one of India's longest-running insolvency cases. According to the latest exchange filing dated June 15, 2026, the delisting follows the acquisition of the debt-laden company's assets by Adani Group. The company had previously received final approval from both exchanges for the delisting process, with the shares being officially delisted with effect from June 18, 2026. As per the exchange filing, Jaiprakash Associates placed on record its sincere appreciation for the support and cooperation extended by the exchanges during the period of listing of the company's securities.
As reported by The Economic Times, approximately 6.48 lakh shareholders held a stake in JAL as per data till March 31, 2026. Around 6.4 lakh retail shareholders led a 45% stake in the company, while ICICI Bank owned a nearly 8% holding in the company. As per the approved resolution plan, the existing shareholders of Jaiprakash Associates are set to receive zero consideration for their shares as the existing shareholding structure of the company will be completely wiped out. The company thanked both exchanges for their support during its listing tenure, acknowledging their cooperation during the extended period.
The Adani Group successfully acquired Jaiprakash Associates through a ₹14,535 crore insolvency resolution plan, marking one of India's largest distressed asset takeovers. According to multiple reports, Adani Enterprises competed with the Vedanta Group for control of the company during the resolution process, with Adani's proposal being preferred due to its larger upfront cash payment and faster implementation timeline. The NCLT's Allahabad Bench approved the resolution plan on March 17, 2026, and the acquisition was formally implemented on May 21, 2026. A person aware of the development told The Economic Times that "this was a big day for lenders because they will receive a large amount after such a long delay."
As reported by The Economic Times, Adani Power signed definitive agreements with JAL to acquire a 24% stake in Jaiprakash Power Ventures Limited (JPVL) for around ₹2,994 crore, along with the 180 MW Churk thermal power plant in Uttar Pradesh for ₹1,200 crore under the NCLT-approved resolution plan for JAL. This comprehensive asset acquisition forms part of the broader resolution process that has now concluded with the delisting of the company's shares.
