Adani Infra Seeks CCI Approval for PSP Projects Stake Acquisition
ECONOMY & POLICY

Adani Infra Seeks CCI Approval for PSP Projects Stake Acquisition

Adani Infra, the infrastructure division of Adani Enterprises, has sought approval from the Competition Commission of India (CCI) for the acquisition of a significant stake in PSP Projects Ltd, a leading player in the industrial and luxury construction sectors. This move is set to enhance Adani Group’s foothold in India’s booming construction industry.

PSP Projects, renowned for high-profile developments such as the Surat Diamond Bourse, reported an order book worth Rs 65.46 billion as of September 2024. As part of the deal, Adani Infra plans to acquire a 30.07% stake in PSP Projects from its promoter, Prahaladbhai S Patel, for Rs 6.85 billion. Additionally, Adani Infra will make an open offer to acquire up to 26% more from minority shareholders, which could make it the largest shareholder in the company.

Adani Infra assured the CCI that the acquisition would not disrupt competition across various sectors including real estate, airports, and infrastructure. Upon finalization of the deal, Adani Infra and the current promoters will hold equal stakes in PSP Projects.

Adani Infra, the infrastructure division of Adani Enterprises, has sought approval from the Competition Commission of India (CCI) for the acquisition of a significant stake in PSP Projects Ltd, a leading player in the industrial and luxury construction sectors. This move is set to enhance Adani Group’s foothold in India’s booming construction industry. PSP Projects, renowned for high-profile developments such as the Surat Diamond Bourse, reported an order book worth Rs 65.46 billion as of September 2024. As part of the deal, Adani Infra plans to acquire a 30.07% stake in PSP Projects from its promoter, Prahaladbhai S Patel, for Rs 6.85 billion. Additionally, Adani Infra will make an open offer to acquire up to 26% more from minority shareholders, which could make it the largest shareholder in the company. Adani Infra assured the CCI that the acquisition would not disrupt competition across various sectors including real estate, airports, and infrastructure. Upon finalization of the deal, Adani Infra and the current promoters will hold equal stakes in PSP Projects.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code