Kotak Alternate Assets bids Rs 7,400 crore for Jaiprakash Power Ventures, complicating Vedanta's plans

Kotak Alternate Assets has emerged as the highest bidder for Jaiprakash Power Ventures’ preference shares and debt with a Rs 7,400 crore offer, potentially complicating Vedanta’s bid for Jaiprakash Associates Ltd. This move could hinder Vedanta’s influence over JP Power, a key asset in the JAL portfolio, as Kotak Alts could gain significant ownership, triggering an open offer.