As part of a strategic move to reshape India’s engineering, procurement and construction (EPC) landscape, Adani Infra (India) Limited has received approval from the Competition Commission of India to acquire a significant stake in PSP Projects Limited. (CCI) was approached.
In November 2024, it was announced that Adani Infra will buy 30.07 per cent stake in Gujarat-based construction company PSP Projects for Rs 685 million. This stock purchase will be followed by a public offering to general shareholders.
The proposed integration transaction involves Adani Infra acquiring a stake in the PSP project from its current promoter Prahaladbhai S. Patel.
Post transaction, both Adani Infra and PSP’s existing promoters will have equal stakes, creating a major partnership in the infrastructure space.
Adani Infra, a leading power generation, transmission and large-scale infrastructure development company, aims to leverage PSP Projects’ expertise in EPC services across industrial, institutional and residential sectors.
The move could strengthen Adani’s influence in India’s booming construction and infrastructure market.
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Both parties assured that the transaction will not have a negative impact on competition in the market, as the companies’ businesses are vertically aligned but non-overlapping. The CCI is expected to assess the market impact on real estate, airport development and cement production, among others.
If approved, the deal could signal further aggressive expansion by Adani Group and strengthen its dominance in India’s infrastructure sector. Industry experts expect the company’s EPC capabilities to improve, opening the door to large-scale public and private projects.
PSP Projects was involved in the construction of Surat Diamond Exchange, the world’s largest office complex with a built-up area of 6.6 million square feet.
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Following completion of the transaction and public offering, Adani Infra along with Prahalabhai Patel, Sagar Patel, Pooja Patel, Shilpaven Patel, PSP Family Trust, PPP Family Trust, SSP Family Trust (existing promoter group) The company will acquire joint control of the PSP project. ). Adani Infra is classified as one of the promoters of the company.
