PSP Projects Limited has informed the Exchange regarding Board meeting held on August 05, 2025.
PSPPROJECT · price
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On the reaction day the stock moved 1.8 pts more than Nifty Microcap 250 and 2.2 pts more 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 has completed its acquisition of a 34.41% stake in PSP Projects, becoming a co-promoter with joint control alongside existing promoters. Adani acquired 91.53 lakh shares (23.09%) from promoter Mr. Prahaladbhai S. Patel under the Share Purchase Agreement, plus 44.86 lakh shares (11.32%) from public shareholders via the mandatory open offer. Adani's representative Mr. Kattunga Srinivasa Rao (30+ years in Power & Infrastructure) has been appointed as an Additional Non-Executive Non-Independent Director for 5 years. Ms. Pooja P. Patel stepped down as Whole-Time Director and was appointed as CEO from August 6, 2025, while her father Mr. Prahaladbhai S. Patel continues as Chairman and Managing Director. The Articles of Association will be amended to incorporate the terms of the shareholders' agreement, subject to shareholder approval.
PSP Projects now has Adani group as a co-promoter with joint control, bringing the backing of a large infrastructure conglomerate to a mid-sized construction company. This typically signals stronger project pipeline access and credibility, but also means shared decision-making for existing shareholders. The stock may see re-rating interest given Adani's infrastructure footprint, while management continuity at the operational level is maintained with the founder family.