Jaypee Cement assets on the block as insolvency process accelerates

Debt-laden Jaypee Cement Corporation Limited (JCCL) has formally invited bids for its revival, kicking off a corporate insolvency resolution process (CIRP) that could reshape India’s cement sector. The resolution professional (RP) issued a detailed Expression of Interest (EoI) notice today, offering the company’s 1.2 million-tonne cement capacity and allied assets to potential investors.

Key Assets on Offer

• Cement Units:
  • Shahabad Grinding Unit (Karnataka) with 60MW captive power plant
  • Chunar Cement Factory (UP)
  • Prayagraj Blending Unit (UP)
• Ancillary Facilities:
  • Heavy Engineering Workshop (Rewa, MP)
  • Asbestos plants (1,00,000 TPA capacity each)
• Financial Snapshot:
  • FY24 Revenue: ₹30.03 Crores
  • Workforce: 349 employees

Critical Timelines for Bidders

Strategic Significance

Jaypee Cement assets — spread across Uttar Pradesh, Karnataka, and Madhya Pradesh—offer geographic diversification in a cement market projected to grow at 8% CAGR through 2030. Its captive power plant and grinding units are seen as high-value additions for established players seeking capacity expansion.

Deepika Bhugra Prasad isthe resolution professional in the case.

“All bid documents, including financial statements and creditor lists, are accessible on our portal. We expect strong interest from domestic and global cement majors,” reads the invitation for EoI.

Jaypee Cement, part of the crisis-hit Jaypee Group, entered insolvency following loan defaults. Its parent company, Jaiprakash Associates Limited, is undergoing separate resolution at the NCLT.

Jaiprakash Associates, a company involved in cement, real estate, hospitality, and construction, has entered insolvency proceedings with the National Company Law Tribunal. Creditors have filed claims totalling Rs 57,185 crore. Several companies, including Adani Enterprises, Dalmia Cement (Bharat) Ltd, Vedanta, Jindal Power, and PNC Infratech, have filed notices with the Competition Commission of India (CCI) to participate in the bidding process.

The group’s another entity Jaypee Infratech has been acquired by Suraksha Realty through corporate insolvency resolution process.

Also See: NCLT approves Suraksha Realty’s bid for Jaypee Infratech