Adani Infrastructure Takes Joint Control of PSP Projects With 34.41% Stake

Adani Infrastructure (India) Ltd has officially become a joint promoter of PSP Projects Ltd after acquiring a 34.41% stake in the construction company. The acquisition was executed in two tranches on 4 and 5 August 2025 through a combination of a share purchase agreement and a mandatory open offer.

This strategic move aligns with Adani Group's plan to consolidate its position in the infrastructure and construction sector.

Acquisition Details and Shareholding Structure 

The development follows PSP Projects’ earlier disclosure dated 19 November 2024 regarding a share purchase agreement (SPA) between promoter Prahaladbhai S Patel and Adani Infrastructure.

The agreement enabled the acquisition of up to 30.07% of PSP Projects’ equity share capital. It was supplemented by a shareholders’ agreement (SHA) involving Patel, Adani Infrastructure, the company, and other existing promoters.

As part of the mandatory open offer, Adani Infrastructure acquired 44,86,193 equity shares from public shareholders, representing 11.32% of PSP Projects’ paid-up capital. Additionally, it acquired 91,53,779 shares or 23.09% from Patel under the SPA. With a total holding of 1,36,39,972 shares, Adani Infrastructure now controls 34.41% of PSP Projects’ paid-up equity capital.

Promoter Reclassification and Board Actions

Effective 5 August 2025, the shareholders’ agreement has come into full force, reclassifying Adani Infrastructure as a promoter of PSP Projects. The company now shares joint control along with Patel and other existing promoter entities. 

The board of directors of PSP Projects, during its meeting on the same day, officially recorded the completion of these share transactions and approved Adani Infrastructure’s reclassification as a promoter with joint control of the company.

In the original agreement announced in November 2024, Adani Infrastructure had disclosed its intent to acquire a 30.07% stake for ₹685.36 crore. At the time, existing promoters collectively held 60.14% in PSP Projects, with Prahaladbhai S Patel alone holding 47.76% of which he agreed to sell 30.07% to Adani.

Also Read: Adani Ports Q1 FY26 Earnings Results: Net Profit Rises 6.5%, Revenue Surges 31% YoY

PSP Projects Share Price Performance 

As of August 6, 2025, at 1:47 PM, PSP Projects share price is trading at ₹705.30 per share, reflecting a gain of 0.49%. Over the past month, the stock has declined by 6.80%.

Conclusion

With the completion of this strategic acquisition, Adani Infrastructure has formally joined PSP Projects as a joint promoter, strengthening its foothold in India’s construction sector. The move marks a shift in the company's ownership structure and opens the door for collaborative control between the Adani Group and existing promoters, signalling a new phase of growth and direction for PSP Projects.

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