Adani Infrastructure, owned by Gautam Adani's flagship company, on Tuesday (November 19) made an open offer to acquire additional 26% stake (1 crore shares) in construction firm PSP Projects at ₹642.06 per share.

India's Adani Infra will purchase a 30.07% stake in construction firm PSP Projects for 6.85 billion rupees ($81.2 million), the latter said on Tuesday. Adani Infra, owned by a unit of Indian billionaire Gautam Adani's flagship Adani Enterprises,

PSP Projects has a market capitalisation of Rs 2,800 crore. Adani Group is reportedly in talks to acquire a controlling stake in the construction company, which is likely to trigger an open offer.

Adani Infra will buy a 30.07% stake in the construction company PSP Projects for Rs 6.85 billion (around $81.2 million), PSP Projects announced on Tuesday. Adani Infra, part of billionaire Gautam Adani's Adani Enterprises,

Shares of Gujarat-based PSP Projects surged 14.5% to Rs 452.45 on the BSE following reports that the Adani Group is in talks to acquire a 60.14% majority stake in the company. The deal could trigger an open offer for an additional 26% stake from public shareholders.

The Adani Group is in advanced stages of negotiations to buy stake in PSP Project, sources with knowledge of the matter told CNBC-TV18. Sources said that the Adani Group may acquire 60.14% stake from its promoters.