Synopsis :

Jaiprakash Power Ventures shares surged 17% after creditors of Jaiprakash Associates favoured Adani Enterprises’ Rs. 13,500 crore takeover bid over Vedanta’s higher offer, attracted by faster payouts and larger upfront payments, advancing India’s largest insolvency resolution.

This company operates in coal mining, sand mining, cement grinding, and production of thermal and hydroelectric electricity is now in the focus after Adani has been chosen to acquire under the insolvency process.

With market capitalization of Rs. 13,919 cr, the shares of Jaiprakash Power Ventures Ltd are closed at Rs. 20.31 per share, increasing more than 17% in today’s market session making a high of Rs. 20.75, from its previous close of Rs. 17.64 per share.

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According to sources, Creditors

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