Adani Infra to acquire 30% stake in PSP Projects for Rs 685 crore
8 hours ago · Adani Infra, owned by a unit of Indian billionaire Gautam Adani's flagship Adani Enterprises, will purchase the shares from Prahladbhai S Patel, who leads PSP Projects and is its top shareholder. The Adani Group, whose assets span from ports to power, has been strengthening its footprint in multiple sectors, including a recent $10 billion ...
PSP Projects share price jumps 10% on news Adani may buy …
14 hours ago · 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.
PSP Projects shares zoom nearly 15% on Adani buying majority …
13 hours ago · Shares of Gujarat-based construction company PSP Projects soared 14.5% to an intraday high of Rs 452.45 on the BSE on Tuesday, following reports that the Adani Group is in talks to acquire a majority stake in the company. The Adani Group is looking to acquire a 60.14% stake in PSP Projects from its promoters, which would likely trigger an open offer for an additional 26% stake held by public ...
Adani Group nears deal to buy 60% stake in PSP Projects: Exclusive
14 hours ago · CNBC-TV18 reached out to both the Adani Group and PSP Projects for a comment. While the Adani Group has declined to offer a comment, PSP Projects is yet to respond. In response to the news, shares of PSP Projects surged as much as 12.5%, the most in a single day since January 2022 to ₹724.9. Shares of PSP Projects have been underperformers so ...
Adani Infrastructure launches open offer to acquire 26% stake in PSP …
6 hours ago · PSP Projects in the filing said Prahaladbhai S Patel "entered into a share purchase agreement dated November 19, 2024 (SPA) with the Acquirer (Adani Infra) to record the terms and conditions on which the Seller has agreed to sell, and the Acquirer has agreed to acquire up to 1,19,19,353 equity shares of the company representing up to 30.07% of ...
Adani to Buy PSP Projects’ Stake to Boost Construction Business
8 hours ago · Billionaire Gautam Adani agreed to buy a majority stake in PSP Projects Ltd. as his ports-to-power conglomerate seeks to enhance its engineering and construction capabilities to execute ...
Adani Infra Buys 30% Stake in PSP Projects for Rs 685 cr
7 hours ago · Adani Infra, part of the Adani Group, will acquire a 30.07% stake in PSP Projects for Rs 685.36 crore, marking a significant consolidation in the construction sector. The deal includes an open offer for an additional 26% stake, potentially making Adani the largest shareholder.
Adani Infra to buy 30% stake in PSP Projects for $81 million
8 hours ago · Adani Infra, owned by Gautam Adani's flagship company, is set to acquire a 30.07% stake in PSP Projects for $81.2 million. The deal will be followed by an open offer for further stake acquisition. This move strengthens Adani Group's presence in the infrastructure sector, adding PSP Projects' $800 million order book to its portfolio.
Adani Infrastructure to acquire 30.07% stake in PSP Projects from …
9 hours ago · Prahaladbhai S Patel, one of the promoters of PSP Projects, is the seller who entered into a share purchase agreement with Adani Infra (India) Limited by selling 1.19 crore equity shares of the ...
Adani Infra Acquires 30.07% Stake in PSP Projects for Rs 685 Crore
7 hours ago · The existing promoter group holds 60.14% of the paid-up equity capital of PSP Projects. Both the promoter group of PSP Projects and Adani Infra, as long as they hold over 20% stake in the company, will have the right to appoint two non-independent directors on the board, and with the stake between 10-20%, they can have one independent director each on the board of PSP Projects.
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