In the race to acquire bankrupt infra company Jaypee Group, creditors unanimously voted in favor of Adani Enterprises’ proposal. While Anil Aggarwal’s Vedanta had made a higher bid, creditors preferred Adani’s plan due to better pre-payment terms. However, the NPV of Adani’s bid was about ₹500 crore less than Vedanta’s. Jaypee Associates has a total debt of ₹55,000 crore, and NARCL is its largest creditor. Initially, five companies had bid, but in the final e-auction, Adani seems to be coming out ahead and becoming the potential new owner. Jaypee Group’s portfolio includes Cement, Township, Power, Hospitality and the 1000-acre Sports City Project.
