PSP Projects Limited has informed the Exchange regarding Resignation of Ms Pooja P. Patel as Executive Director of the company w.e.f. August 05, 2025.
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PSP Projects has finalized a major ownership change with Adani Infra (India) acquiring a total of 34.41% stake, making it a co-promoter with joint control alongside the existing Patel promoter group. Adani bought 23.09% from promoter Prahaladbhai S. Patel via a share purchase agreement and 11.32% from public shareholders through an open offer. As part of the new joint-control arrangement, Mr. Kattunga Srinivasa Rao (Adani's representative) has joined the board as a non-executive non-independent director. The company has reshuffled top leadership: Ms. Pooja P. Patel resigned as Whole-Time Director to take on a hands-on operational role as the new CEO from August 6, 2025, while founder Mr. Prahaladbhai S. Patel continues as Chairman and Managing Director (CEO tag removed from his title). The Articles of Association will also be amended to reflect the new joint-control terms.
This is a landmark change for PSP Projects — Adani's entry as co-promoter with over a third of the company brings the backing of a large infrastructure group but also means shared decision-making and likely strategic alignment with Adani's infrastructure ambitions. For shareholders, the Patel family remains in operational control through the CEO role, but expect governance changes and possible synergies or project pipelines from the Adani relationship. The stock may see re-rating interest given Adani's reputation, though minority shareholders now have less unilateral influence given joint control.