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From ₹339 to ₹2: The Rise and Fall of a ₹1.15 Lakh Crore Company, Now in the News Again
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Jaiprakash Associates: From ₹339 to ₹2, Adani Plan Offers Hope
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CNBC Awaaz
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17-03-2026, 17:13
Jaiprakash Associates: From ₹339 to ₹2, Adani Plan Offers Hope
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Jaiprakash Associates, once valued at ₹1.15 lakh crore with shares at ₹339, collapsed due to debt and project delays.
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The company, known for projects like Yamuna Expressway, faced a debt of ₹24,000 crore by 2013, leading to IBC proceedings.
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Adani Enterprises' resolution plan, valued at ₹14,535 crore, was approved by the Committee of Creditors and NCLT.
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The NCLT's oral approval on March 17, 2026, marks a crucial step in the company's insolvency resolution process.
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Despite the Adani plan, Jaiprakash Associates' share price remains locked at around ₹2, reflecting investor caution.
Read Full Article on Cnbc in Hindi
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