Adani Infra’s Strategic Acquisition in PSP Projects

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.