The infrastructural company under Gautam Adani-owned Adani Enterprises will buy shares from the top shareholder of PSP Projects, Prahladbhai S Patel, Reuters reported on Tuesday.
PSP Projects works in industrial, institutional, residential and luxury projects including the Surat Diamond Bourse. As of September 30, the company had an order book of ₹65.46 billion, the report said.
The Adani Infra deal values PSP Projects at ₹575 per share, which is a 15 per cent discount from its closing price on Tuesday.
Gautam Adani announced that the company will invest $10 billion in energy and infrastructure projects in the United States in a social media post on Wednesday, November 13, while congratulating the US President-elect Donald Trump on his win against Democratic candidate Kamala Harris in the US Presidential Elections 2024. The investment plans to create nearly 15,000 jobs, according to Adani.
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