Adani Ports & Special Economic Zone has entered into a share purchase agreement with Jaiprakash Associates for acquisition of 100% stake in Jaypee Fertilizers & Industries (JFIL).

JFIL is the holding company of Kanpur Fertilizers and Chemicals (KFCL) (which has certain industrial and commercial lands in Kanpur). KFCL holds ~243 acres of land in Kanpur, strategically ideal for development of a world-class logistics park and warehousing facilities aligned with the Company's logistics business. The acquisition shall further consolidate Company's inland logistics presence and service capabilities in North India. The acquisition aligns with Company's ambition to expand its MMLP network from 12 to 16 and warehousing capacity by c.4x by the year 2031.

The aforesaid acquisition is being undertaken as per the terms of the Approved Resolution Plan for Jaiprakash Associates submitted by Adani Enterprises and is expected to be consummated on the ‘Effective Date' under the Approved Resolution Plan.