New Delhi, Oct. 24 -- Last week the Competition Commission of India (CCI) approved mining major Vedanta's Rs.17,000-crore bid for Jaiprakash Associates Ltd (JAL), the bankrupt flagship entity of Noida's Jaypee Group. In doing so, it set the stage for a high-stakes contest with the Adani Group, whose Rs.12,600-crore bid for JAL was approved in August.

Despite carrying total liabilities of Rs.55,371 crore as of 30 September 2025, JAL has emerged as one of India's most coveted acquisition targets.

To date, CCI has approved bids from six major companies for JAL: Vedanta, Adani Group, Jindal Steel & Power Ltd, PNC Infratech, Suraksha Group, and Dalmia Bharat, whose proposal to acquire a 100% stake in JAL has also been cleared.

Mint explains...