NEW DELHI: Adani Ports and Special Economic Zone on Thursday said it will acquire a 100 per cent stake in Jaypee Fertilizers & Industries from Jaiprakash Associates for Rs 1,500 crore, as part of the NCLT-approved resolution plan for JAL.
Adani Ports and Special Economic Zone Ltd (APSEZ), in a regulatory filing, said the acquisition will further consolidate the company's inland logistics presence and service capabilities in North India.
The acquisition aligns with the company's ambition to expand its MMLP (Multi-Modal Logistics Park) network from 12 to 16 and warehousing capacity by 4X by 2031, it added.
"As part of the implementation of the approved resolution plan, the company has entered into a share purchase agreement with Jaiprakash Associates Limited for the acquisition of 100 per cent of the shareholding of Jaypee Fertilizers & Industries Limited (the holding company of KFCL), held by JAL (Jaiprakash Associates Limited)," the country's largest private port operator said.
Jaypee Fertilizers & Industries Limited (JFIL) is the holding company of Kanpur Fertilizers and Chemicals Limited (KFCL), which has certain industrial and commercial land parcels in Kanpur.
KFCL holds 243 acres of land in Kanpur, strategically ideal for the development of a world-class logistics park and warehousing facilities aligned with the company's logistics business.
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.
Competition Commission of India approval has already been obtained on August 26, 2025.
The resolution plan was approved by the National Company Law Tribunal, Allahabad bench in Prayagraj on March 17, 2026, which was further upheld by the National Company Law Appellate Tribunal on May 04, 2026.
JFIL is engaged in the business directly or by making investments in other companies having similar objectives, including manufacturers, fabricators, processors, producers, importers, exporters, buyers, and sellers of all kinds of fertilisers and chemicals.