Adani Infra, a subsidiary of Adani Enterprises, announced the acquisition of a 30.07% stake in PSP Projects for ₹6.85 billion ($81.2 million). This move aims to bolster Adani’s presence in the construction sector, leveraging PSP Projects’ expertise in industrial, institutional, residential, and luxury developments. The deal values PSP Projects at ₹575 per share, a 15% discount from its closing price. Following the announcement, PSP Projects’ shares surged by 4.4%, indicating positive market reception.
Adani Infra’s Strategic Acquisition in PSP Projects
Date:
More like thisRelated
Caterpillar Partners with Nvidia to Bring AI to Construction Equipment
Caterpillar is taking a decisive step toward smarter construction...
Ramayapatnam Port Construction Nears Completion with 80% of Phase-I Works Finished
The construction of Ramayapatnam Port is progressing swiftly, with...
RITES Invites Bids for Construction of Academic and Hostel Blocks at IIM Raipur
RITES has invited bids for a major construction project...
The Day Cars Started Talking
The Indian government’s plan to introduce Vehicle-to-Vehicle (V2V) communication...
