Jaiprakash Associates

CCI clears acquisition of Jaiprakash Associates' assets by Dalmia Cement

The Competition Commission of India on Wednesday approved the acquisition of certain assets of Jaiprakash Associates Ltd and its associate by Dalmia Cement (Bharat) Ltd. The proposed combination relating to acquisition of clinker, cement and power plants belonging to Jaiprakash Associates Ltd and its associate by the Dalmia Cement (Bharat) Ltd, according to an official release. Dalmia Cement (Bharat) Ltd is a wholly-owned subsidiary of Dalmia Bharat Ltd (DBL). DBL engages in the business of manufacture and sale of cement, sugar and refractory services. DBL is the ultimate parent entity of the Dalmia Bharat Group. The assets are engaged in the manufacture and sale of clinker, grey cement and thermal power generation in the states of Madhya Pradesh, Uttar Pradesh and Chhattisgarh. Deals beyond a certain threshold have to be approved by CCI, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.

Jaiprakash Associates defaults on Rs 4,059 crore loans with various banks

Jaypee Group's flagship firm Jaiprakash Associates has defaulted on loans of Rs 4,059 crore, comprising both the principal and interest amount. In a regulatory filing, Jaiprakash Associates Ltd (JAL) said the company on December 31 defaulted on repayments of principal amount Rs 1,713 crore and interest of Rs 2,346 crore. The loans pertained to various banks and the nature of obligation is fund based working capital, non fund based working capital, term loans and FCCB (foreign currency convertible bonds). In September 2018, ICICI Bank filed an insolvency petition against JAL but the matter is still pending before the Allahabad bench of the National Company Law Tribunal (NCLT). The country's biggest lender SBI had in September this year moved the NCLT against JAL, claiming a total default of Rs 6,893.15 crore as on September 15, 2022. Last month, JAL and its group firms announced the sale of its remaining cement assets to Dalmia Bharat Ltd at an enterprise value of Rs 5,666 crore an

Acquisition of JP's cement capacity a good long-term move by Dalmia

After acquisition, Dalmia's capacity mix will include 52 per cent in the east, 26 per cent in the south, 16 per cent in the central region and 6 per cent in the west

Sensex surges 403 pts; Nifty tops 18,600; PSU Bank index leaps 4%, IT 1%

CLOSING BELL: IndusInd Bank, Bajaj Finance, M&M, Tech M, HCL Tech, Infosys, TCS, Ultratech Cement, and Bajaj Finserv were the top gainers on the 30-pack index

Dalmia Bharat dips 5% a day after inking deal to buy Jaiprakash's biz units

Meanwhile, Jaiprakash Associates dipped 8 per cent to Rs 10.81, falling 13 per cent from its intra-day high, and Jaiprakash Power Ventures declined 5 per cent to Rs 7.90 on the BSE.

Jaiprakash to sell cement, power units to Dalmia Group for Rs 5,666 cr

Deal will give buyer entry into high-growth markets of UP and MP, may turn the firm into a net debt company from almost debt free now

Sensex, Nifty end flat ahead of inflation data; HDFC duo, RIL lend support

CLOSING BELL: The benchmark indices sought support from financial and metal stocks with their respective indices climbing 0.2 per cent & 0.4 per cent. On the downside, the IT index fell 0.4 per cent.

Jaiprakash Associates board meet to sell cement units on Monday

Dalmia Cement is a front runner to acquire the company apart from the Adani group and Aditya Birla group were also in the fray

Ultratech drops out of race to buy Jaiprakash Associates' cement assets

Lack of agreement over valuation spurs decision; deal would have provided relief to Indian lenders, which have an exposure of Rs 28,753 crore to Jaiprakash

Adani Enterprises says not evaluating plans to buy Jaiprakash cement unit

Indian billionaire Gautam Adani-led Adani Enterprises Ltd on Friday said it was not evaluating a proposal to acquire Jaiprakash Associates Ltd's cement business.

Sale of cement units to Adani group a relief for Jaiprakash lenders

Lenders said they are still awaiting the resolution of a debt worth Rs 21,658 crore with Jaypee Infratech -- the real estate arm of the group

JP Associates up 13% on nod to divest cement biz; zooms 72% from June low

To give thrust to the ongoing efforts of the Company to reduce its debt, the board of directors has decided to divest Company's significant Cement business

Jaiprakash Associates posts 86.2% drop in net profit to Rs 424.41 crore

Jaiprakash Associates Ltd (JAL) on Monday reported a decline of 86.2 per cent in its consolidated net profit to Rs 424.41 crore for the fourth quarter ended March 31, 2021. The company had posted a net profit of Rs 3,068.10 crore in the January-March quarter a year ago, JAL said in a BSE filing. However, its revenue from operations was up 34.18 per cent at Rs 2,517.20 crore during the quarter under review as against Rs 1,876.03 crore in the corresponding period last fiscal, the company said. Its total expenses were at Rs 2,212.43 crore, down 4.76 per cent in Q4/FY 2020-21 as against Rs 2,322.95 crore a year ago. For the fiscal year, which ended on March 31, 2021, JAL reported a consolidated net loss of Rs 667.31 crore. It had a net profit of Rs 560.76 crore in the previous year. Its revenue from operations was at Rs 6,405.66 crore in FY 2020-21, down 8.95 per cent. It was Rs 7,035.49 crore in FY 2019-20. Shares of Jaiprakash Associates Ltd on Monday settled at Rs 14.76 apiece, up

Jaiprakash Associates MD Sunny Gaur resigns citing personal reasons

The board of directors has accepted the resignation tendered by Gaur citing personal reasons, said Jaiprakash Associates in a regulatory update

Govt orders probe against Jaiprakash Associates, Jaypee Infratech

The Jaypee group has already sold many cement and power plants to reduce its debt

Rs 750 cr paid by JAL was towards obligation of Jaypee Infratech: NCLT

The NCLT Delhi bench on Tuesday approved the bid of state-owned NBCC to acquire debt-laden JIL through an insolvency process and complete around 20,000 pending flats over the next three and half years

JP Associates reports consolidated net loss of Rs 874 crore for Dec quarter

Its net loss stood at Rs 400.72 crore in the year-ago period

JSW group plans to tie up with Suraksha Realty for Jaypee real estate

JSW Infra will also provide technical expertise in building and operating infrastructure assets

NBCC sweetens bid to buy Jaypee Infra; offers more land, flats to lenders

Jaypee Infratech owed nearly Rs 10,000 crore to bankers

Jaypee Infratech lenders to meet on Nov 18, comply with SC direction

Jaypee group firm Jaypee Infratech went into insolvency in 2017 after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium seeking resolution of the firm