Adani Infra seeks CCI nod to buy stake in PSP projects
Adani Infra has sought the Competition Commission of India's (CCI) clearance to pick up a stake in PSP Projects, further bolstering its construction capabilities, showed the company's filing with the regulator.
Budget with ET
Rising Bharat may need to take center stage for India’s game-changing plans
Will Indian Railways accelerate to global standards with govt’s budgetary allocation?
Budget 2025 to catapult India's domestic manufacturing to a global scale
Adani Infra, owned by a unit of billionaire Gautam Adani's flagship Adani Enterprises, had in November 2024 said it would acquire 30.07% in PSP Projects for ₹685 crore.
It would also make an open offer for another 26% in PSP Projects from public shareholders to comply with the regulatory requirement that kicks in when a company buys more than 25% in a listed firm.
The company will buy the shares from Prahladbhai S Patel, who owns 47.76% in PSP Projects. The promoter and the promoter group, which includes Patel, holds 60.14% in total. The open offer would make Adani Infra the top shareholder in PSP Projects.
In its January 20 filing with the CCI, Adani Infra said: «The proposed transaction will not have any impact on the market dynamics of any market/segment in India, let alone cause an appreciable adverse effect on competition in any plausible relevant markets in India.»
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI:
