Adani Infra Seeks CCI Nod for PSP Projects Stake Acquisition

24 Jan 2025 CW Team

Gautam Adani-led Adani Infra, a subsidiary of Adani Enterprises, has approached the Competition Commission of India (CCI) seeking approval to acquire a majority stake in PSP Projects Ltd. The Ahmedabad-based PSP Projects specialises in industrial, institutional, residential, and luxury developments, including the Surat Diamond Bourse. As of September 2024, it held an order book valued at Rs 65.46 billion.

The proposed deal involves Adani Infra acquiring equity shares of PSP Projects from its promoter, Prahaladbhai S. Patel, and public shareholders through an open offer.

Following the transaction, Adani Infra, Patel, and other existing promoters are expected to hold equal stakes in the company, according to the CCI filing.

Adani Infra’s notification to CCI was made under Section 6(2) of the Competition Act, 2002, which requires prior approval for combinations exceeding specified thresholds. The company asserted that the transaction would not disrupt market dynamics or adversely impact competition in India. For competitive assessment, the relevant markets could include real estate development, airport operations, cement manufacturing, and infrastructure services.

In November 2024, Adani Infra announced plans to acquire a 30.07% stake in PSP Projects for Rs 6.85 billion, strengthening its construction capabilities. Patel currently holds 47.76% of PSP Projects, of which he is selling 30.07%. Post-transaction, Adani Infra and the existing promoters will each hold 30.07%, with Adani Infra required to launch an open offer for an additional 26% stake. This would make Adani Infra the largest shareholder in PSP Projects.

The acquisition aligns with Adani Group’s strategy of expanding its footprint across diverse sectors, consolidating its position as a leading player in India’s infrastructure landscape.

(ET)

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..