Shares of (JP Power) surged 17.29 per cent in Wednesday's trade to hit a high of Rs 20.69 after a news report indicated that creditors of its associate company, (JP Associates), unanimously voted in favour of Adani Enterprises Ltd's resolution plan. Advertisement

The decision came after an electronic auction held in September, where Vedanta had initially emerged as the highest bidder with a Rs 17,000 crore offer for the debt-laden JP Associates. However, lenders ultimately opted for Adani Enterprises, with higher upfront payments cited as the key factor behind the selection, according to The Economic Times' report.

In a separate exchange filing, JP Power recently disclosed that its Non-Executive Chairman, Manoj Gaur, has been arrested by the Enforcement Directorate (ED) under provisions

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