ICICI Securities Limited has submitted to Exchange a copy of Post Offer Advertisement in accordance with Regulation 18(12) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, for the attention of the Public Shareholders of the Company.
PSPPROJECT · price
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On the reaction day the stock moved 2.1 pts less than Nifty Microcap 250 and 1.9 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Adani Infra (India) Limited completed its open offer to acquire shares of PSP Projects Limited at INR 642.06 per share. The offer ran from May 22, 2025 to June 4, 2025, with payment made on June 11, 2025. Out of the maximum 1.03 crore shares (26% of voting capital) on offer, only 44.86 lakh shares were tendered by public shareholders, worth approximately INR 288 crore. Adani Infra also acquired 96.76 lakh shares (24.41%) through separate share purchase agreements. After the open offer and underlying SPA transaction, Adani Infra's total shareholding in PSP Projects stands at around 35.73%, while public shareholding has come down from 39.86% to 28.55%.
Adani Group has now become a significant shareholder in PSP Projects, marking its entry into the construction/infrastructure space. For existing public shareholders, this signals a major corporate change with a large, well-capitalized promoter entering the company, which could be positive for long-term growth but also reduces the public float.