Adani Infra buys 34% stake in PSP Projects, becomes promoter of the company

Adani Infra has completed the acquisition of a 34.4 per cent stake in PSP Projects. According to an exchange filing by PSP Projects, Adani Infra, along with existing promoters,  has become the promoter of the company after the conclusion of the share purchase agreement.

As per the filing, Adani Infra purchased a 23.09 per cent stake in the PSP Project from the promoter group, while an 11.2 per cent stake was bought from public shareholders through an open offer.

Adani Infra completed the share purchase in the PSP group on August 5, while the initial agreement between the company and PSP Project’s promoters was signed in November 2024. 

As the deal concludes, Adani Infra has acquired joint control of the company along with the existing promoters, Prahaladbhai S Patel and  PSP Family Trust. 

Adani Infra gets board seat

As Adani Infra becomes a promoter of the PSP Projects, it has received one seat on the board of directors of the company. Kattunga Srinivasa Rao, representing Adani Infra, is appointed as an additional non-executive non-independent director on the board of PSP Project. 

PSP Projects businesses

PSP Projects is an Ahmedabad-based construction company. The company operates in the construction of residential, commercial, and government buildings. One recent high-profile project by the company was the construction of the Surat Diamond Bourse, the world’s biggest office complex. 

In Q1FY26, PSP Projects reported a revenue of Rs 512 crore. Furthermore, the company posted a profit of Rs 18.9 crore in the quarter.