अडाणी ग्रुप जल्द ही जेपी-सीमेंट का कर सकता है अधिग्रहण: कंपनी के एसेट्स को खरीदने के प्लान पर पहले से ही काम कर रहा है ग्रुप

Adani Group may soon acquire Jaypee Cement. Jaypee Cement has an annual capacity of more than 90 lakh tonnes. Moneycontrol sources have given this information. Jaypee Cement is going through the bankruptcy process. Lenders started the process against Jaypee Cement under the Insolvency and Bankruptcy Code (IBC) in early June.

On June 3, nearly six years after the petition was filed by ICICI Bank, the National Company Law Tribunal (NCLT) court in Allahabad admitted Jaiprakash Associates Limited for corporate bankruptcy. According to sources, the initiation of proceedings against Jaiprakash has opened up an opportunity for the Adani Group to acquire the company’s cement assets along with its associated assets such as limestone mines and a power plant.

Adani Group started planning to buy the assets of Jaypee Cement
According to the source, Adani Group has already started working on a plan to acquire the assets of Jaypee Cement. However, the bankruptcy process is still in its initial stages. Jaiprakash was appointed to NCLT last month and its Committee of Creditors has met only once so far on 29 June.

The process of selling the assets of Jaiprakash Associates has not started
The formal process of selling the assets of Jaiprakash Associates has not started yet. Dalmia Bharat had signed a deal with Jaypee in 2022 to buy its cement and power assets at an enterprise value of Rs 5,666 crore. However, the deal has not been completed yet due to lack of approval from Jaypee Associates’ lenders.

Mediation going on between Jaiprakash and UltraTech Cement
Besides, the case may also get delayed due to the ongoing arbitration between Jaiprakash and UltraTech Cement for an asset Jaypee Super Dalmia. Dalmia’s proposed deal included the acquisition of 2.2 million tonnes of cement capacity in Bhilai along with 3.3 million tonnes of clinker at Babupur in Madhya Pradesh and Jaypee Super in Uttar Pradesh.

In the case of the 2 MTPA cement plant at Nigri in Madhya Pradesh, Dalmia was to enter into a seven-year lease agreement with an option to buy the unit at any time within the lease period. Jaypee Super’s acquisition of the asset was dependent on the outcome of the arbitration case between Jaiprakash Associates and UltraTech Cement.

Dalmia was about to enter into a seven-year lease agreement
Dalmia was about to enter into a seven-year lease agreement for a cement plant with an annual capacity of 2 million tonnes at Nigri in Madhya Pradesh. Under this agreement, it had the option to buy the unit anytime during the lease period.

The acquisition of Jaypee Super depended on the outcome of this case
The path to the acquisition of Jaypee Super depended on the outcome of the arbitration case between Jaiprakash Associates and UltraTech Cement. Ultra Tech Cement had said a few months ago that it planned to acquire Jaiprakash Associates’ Dalla Super (formerly Jaypee Super) cement assets in Uttar Pradesh after the completion of the arbitration process. These assets were part of the deal between Ultra Tech and Jaiprakash Associates in 2016.

In June, Aditya Birla Group bought stake in India Cements
The bankruptcy process against Jaypee Associates may further increase competition in the cement sector. Big players like UltraTech, Adani, Dalmia and JSW Cement are competing for assets across the country. On June 27, UltraTech, the cement company of Aditya Birla Group, bought 19.44% stake in India Cements at Rs 267 per share. Apart from this, it will buy 3.4% stake at Rs 285 per share, i.e. it will buy 23.44% stake in India Cements for around Rs 1,900 crore.

Adani Group had announced the purchase of Penna Cement last month
​​​​​​​Apart from this, talking about the Adani Group, Ambuja Cements last month announced the purchase of Hyderabad’s Penna Cement at an enterprise value of Rs 10,422 crore. This is the third purchase of the Adani Group since entering the cement sector in less than two years.

In December 2023, Adani Group bought a stake in Sanghi Industries
The purchase of Penna will add 14 million tonnes per annum to Adani Group’s cement capacity and take its total capacity to 89 million tonnes per annum. In December 2023, Adani Group acquired a controlling stake in Sanghi Industries in a deal worth Rs 5,185 crore, adding 610 million tonnes per annum capacity to Adani Group’s portfolio.

Adani Group is expanding rapidly in the cement sector. After the acquisition of ACC and Ambuja Cement, it became the second largest company in the country. After this, the group has added more cement companies to its group.