M&A

M&A

Adani Infra buys 21.83% in PSP Projects through block deal for Rs.554-Cr

Economic Times   PSP Projects  

Adani Infra has purchased a 21.83% stake (8.65 million shares) in Ahmedabad-headquartered PSP Projects through a block deal on the BSE at INR 640 a share for about INR 554 crore.Promoter Prahaladbhai S Patel, who held a 47.76% stake in the company as of June-end, sold 9.1 million shares at INR 640.01 apiece.Adani Infra had in November 2024 signed a definitive deal to acquire up to 30.07% in PSP Projects from Patel.PSP Projects a variety of services in the construction sector, including planning and design, construction, post-construction activities, MEP (mechanical, electrical, and plumbing systems) work, and interior fit-outs across various industrial, institutional, government, and residential segments.