Adani Ports and Special Economic Zone (APSEZ) on Thursday announced the acquisition of a 100 per cent stake in Jaypee Fertilisers & Industries Ltd (JFIL) from Jaiprakash Associates Limited (JAL) for ₹1,500 crore under the NCLT-approved resolution plan for JAL.
The all-cash deal will provide APSEZ indirect control over Kanpur Fertilisers and Chemicals Ltd, a step-down subsidiary of JFIL that owns nearly 243 acres of industrial and commercial land in Kanpur.
APSEZ plans to develop the strategically located land parcel into a large logistics park and warehousing hub, strengthening its inland logistics presence in North India. The acquisition aligns with the company’s broader strategy to expand its multimodal logistics park network from 12 to 16 facilities and significantly increase warehousing capacity by 2031.
Earlier this year, the National Company Law Tribunal approved the Adani Group’s ₹14,535-crore resolution plan for JAL after lenders favoured the proposal over a competing bid from Vedanta Limited.
APSEZ stated that the acquisition is being executed under the resolution plan submitted by Adani Enterprises Limited, which was approved by the NCLT’s Allahabad bench in March 2026 and subsequently upheld by the National Company Law Appellate Tribunal in May 2026.
The company also noted that approval from the Competition Commission of India had already been secured in August 2025.
JFIL, incorporated in 2010, is engaged in fertiliser and chemical-related businesses directly and through investments in group entities. The company reported standalone turnover of ₹25,000 in FY24 and ₹2,000 in FY25.
According to APSEZ, 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.