Synopsis Jaiprakash Associates shares were delisted from the BSE and NSE on Thursday, marking the closure of one of India's longest-running insolvency cases. The delisting follows the acquisition of the debt-laden company's assets by Adani Group. JAL said it had received final approval from both exchanges and thanked them for their support during its listing tenure.ETMarkets.com Jaiprakash Associates shares were delisted from the BSE and NSE on Thursday. Shares of Jaiprakash Associates (JAL) have been delisted from the BSE and NSE today, as one of the longest-running insolvency cases that ended with Adani Group’s acquisition of the debt-ridden company’s assets concludes.In an exchange filing released on Monday, Jaiprakash Associates said that it received final approval from the BSE and NSE for the delisting of its shares. “The company places on record its sincere appreciation for the support and cooperation extended by the exchange during the period of listing of the company's securities,” it added.What happens to JAL shareholders?As of March 31, 2026, around 6.48 lakh shareholders held stake in JAL, with around 6.4 lakh retail shareholders owning a 45% stake in the company. ICICI Bank held a nearly 8% stake in the company.The existing shareholders of Jaiprakash Associates are set to receive zero consideration for their shares as the existing shareholding structure of the company will be completely wiped out, as per the approved resolution plan. The company’s market capitalisation stood at around Rs 592 crore."In the assessment of the Successful Resolution Applicant, the liquidation value is insufficient to even satisfy the claims of secured creditors in full, therefore, NIL consideration is being offered to the shareholders of the Corporate Debtor as part of the delisting process under the Approved Resolution Plan, and the exit price for the existing shareholders is therefore NIL," Jaiprakash Associates had said in an exchange filing in March.Also read: After 15-year wait, JAL homebuyers pin hopes on Adani plan for long-delayed homesThe shares of the company are currently temporarily suspended from trading. From June 18 onwards, the stock will be delisted from the stock exchanges.JAL insolvency proceedingsThe long insolvency proceedings involving Jaiprakash Associates began after the company formally entered the Corporate Insolvency Resolution Process (CIRP) in June 2024. The Allahabad bench of the National Company Law Tribunal (NCLT) approved Adani Enterprises' Rs 14,535 crore resolution plan for JAL, whose assets include major real estate projects such as Jaypee Greens and Jaypee International Sports City, on March 17 this year.Also read: Jaypee Golf Club members in Noida seek clarity as Adani takeover of JAL nearsThe Adani Group in May, paid around Rs 6,000 crore to lenders of debt-ridden Jaiprakash Associates as the first tranche of its Rs 14,535 crore resolution plan, marking a key milestone in one of the longest-running insolvency cases. "This was a big day for lenders because they will receive a large amount after such a long delay," a person aware of the development told The Economic Times.Adani Power, meanwhile, signed definitive agreements with JAL to acquire a 24% stake in Jaiprakash Power Ventures Limited (JPVL) for around Rs 2,994 crore, along with the 180 MW Churk thermal power plant in Uttar Pradesh for Rs 1,200 crore under the NCLT-approved resolution plan for JAL.Also read: Dalmia Bharat seals Rs 2,850 crore deal for JAL cement assets after Adani insolvency takeover(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless(You can now subscribe to our ETMarkets WhatsApp channel)Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless