Ahmedabad: Adani Infra (India) Limited has signed definitive agreements to acquire a 30.07% stake in PSP Projects Limited from its founder-promoter, Mr. Prahladbhai S. Patel. This move signals a strategic partnership aimed at strengthening PSP Projects’ position in India’s infrastructure growth story.
- PSP Projects Overview:
PSP Projects, a leading EPC (Engineering, Procurement, and Construction) company, boasts a robust order book worth ₹6,546 crore. It has executed landmark projects like the Surat Diamond Bourse, Kashi Vishwanath Dham, and Palladium Mall in Ahmedabad. - Adani’s Expansion Goals:
Adani Infra, the PMC (Project Management Consultancy) arm of the Adani Group, will now have joint control over PSP. The collaboration aligns with Adani’s broader vision of investing $100 billion in infrastructure development over the next decade. - Key Transaction Details:
- Mr. Prahladbhai Patel will continue to lead PSP as Chairman, MD & CEO.
- Adani will gain equal board representation and joint control.
- The deal awaits customary regulatory and SEBI Takeover approvals.
Also read | Suditi Industries Acquires Gini & Jony
The partnership is expected to propel PSP Projects to new heights, leveraging Adani’s extensive infrastructure expertise and resources.
