PSP Projects Limited has informed the Exchange regarding Appointment of Ms Pooja P. Patel as Chief Executive Officer of the company w.e.f. August 06, 2025.
PSPPROJECT · price
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Adani Infra (India) Limited has completed its acquisition of 34.41% stake in PSP Projects (11.32% via open offer from public shareholders and 23.09% from promoter Prahaladbhai S. Patel under the share purchase agreement), becoming a co-promoter with joint control of the company. As part of the deal closing, Mr. Kattunga Srinivasa Rao has been appointed as an Additional Non-Executive Non-Independent Director on the board as Adani's representative for a 5-year term. Ms. Pooja P. Patel resigned as Whole-Time Director effective August 5, 2025, and has been appointed as Chief Executive Officer effective August 6, 2025, to take on a more hands-on operational role. Mr. Prahaladbhai S. Patel's designation has been changed from Chairman, Managing Director and CEO to Chairman and Managing Director. The Board has also approved amendments to the Articles of Association to incorporate terms of the shareholders' agreement, subject to shareholder approval.
PSP Projects is now under joint control of the Adani group and the existing promoter family, which brings a large institutional promoter on board and may drive governance and growth changes. The stock is likely to see increased investor interest due to the Adani branding, while operations continue to be led by the promoter family with Pooja Patel as CEO. Shareholders should watch for the shareholder approval process for the AOA amendments and potential strategic shifts in the company's business direction.