Adani Infra to acquire 30% stake in PSP Projects for ₹6.85 billion
livemint.com — November 19, 2024, 04:01 PM UTC
Adani Infrastructure will acquire a 30.07% stake in PSP Projects for ₹6.85 billion, valuing the company at ₹575 per share. This purchase will be made from the top shareholder, Prahladbhai S Patel. Following the acquisition, Adani Infra plans to make an open offer for additional shares, as required by regulations when buying over 25% of a company. PSP Projects has an order book worth ₹65.46 billion. In addition to this deal, Adani is investing $10 billion in energy and infrastructure projects in the United States, aiming to create around 15,000 jobs. The company is also planning a $5 billion investment in India's metal sector over the next few years.