Adani Nears $1.4 Billion Buyout of Jaiprakash in M&A Comeback

Indian billionaire Gautam Adani’s conglomerate is the frontrunner to buy the insolvent Jaiprakash Associates Ltd., setting the stage for his first $1 billion-plus acquisition since a short seller attack in 2023 and a US bribery probe last year.

Adani Group leads the race among bidders to acquire the infrastructure developer with an unconditional bid of at least 120 billion rupees ($1.4 billion), according to people familiar with the bidding process who did not want to be named as the details are private.

Jaiprakash’s lenders are overseeing the sale and assessing the bids under India’s bankruptcy law.

Gautam Adani

Photographer: Hollie Adams/Bloomberg

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