The Adani Group is set to acquire a 30% stake in Gujarat-based PSP Projects for ₹685 crore, boosting its infrastructure and real estate portfolio. The deal involves buying shares from PSP’s promoter Prahladbhai S Patel, with an open offer likely to follow.

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• Adani Infra to acquire 30% stake in PSP Projects for ₹685 crore.
• Purchase from promoter Prahladbhai S Patel, per agreement.
• Open offer required for additional stake as per norms.
• PSP promoter group currently holds 60.14% in the company.
• Acquisition to strengthen Adani’s infra and real estate business.
• Adani recently pledged $10 billion for energy security and infra.
• PSP shares rose 14% intraday, ending 4.71% higher at ₹671.75.
• PSP’s market capitalization now at ₹2,663 crore (Nov 14 data).
• PSP provides industrial, institutional, and government project services.
• Major projects include Surat Diamond Bourse; order book at ₹6,546 crore (Sept 30).