In a strategic move set to reshape India’s engineering, procurement, and construction (EPC) landscape, Adani Infra (India) Limited has approached the Competition Commission of India (CCI) for an approval to acquire a significant stake in PSP Projects Limited.

In November 2024, it was announced that Adani Infra will purchase a 30.07 percent stake in Gujarat-based construction firm PSP Projects for ₹685 crore. This stake buy will be followed up with an open offer to public shareholders.

The proposed combination transaction involves Adani Infra acquiring equity shares of PSP Projects from its current promoter, Prahaladbhai S. Patel.

Post-transaction, both Adani Infra and PSP’s existing promoters will hold equal stakes, marking a major partnership in the infrastructure sector.

Adani Infra, a key player in power generation, transmission, and large-scale infrastructure development, aims to leverage PSP Projects’ expertise in EPC services across industrial, institutional, and residential segments. 

This stake buy move could strengthen Adani’s footprint in India’s booming construction and infrastructure market.

The parties have assured that the deal will not adversely impact market competition, as their operations are vertically linked but not overlapping. The CCI is expected to assess the market implications, particularly in real estate, airport development, and cement production.

If approved, this transaction could signal another aggressive expansion by the Adani Group, reinforcing its dominance in India’s infrastructure sector. Industry experts anticipate a boost in its EPC capabilities, opening doors for large-scale public and private projects.

PSP Projects was involved in the construction of the Surat Diamond bourse, the world’s biggest office complex with built up area of 66 lakh square feet.

After the completion of the transaction and the open offer, Adani Infra will acquire joint control over PSP Projects along with the Prahaladbhai Patel, Sagar Patel, Pooja Patel, Shilpaben Patel, PSP Family Trust, PPP Family Trust and SSP Family Trust (existing promoter group). Adani Infra will be classified as one of the promoters of the company.