Race for investment in JP Power ahead of parent auction today

Marquee corporates Adani Power, Kotak Alternate Assets, Vedanta and Oaktree are among the players to bid for an investment in JP Power’s compulsorily convertible preference shares (CCPS) worth ₹3,800 crore ahead of Friday’s electronic auction for its parent company Jaiprakash Associates, according to multiple people aware of the matter.

The winning bidder for JP Power’s CCPS could have an advantage in the bidding process for Jaiprakash Associates because the power arm has valuable assets and linkages to the parent.