India's Adani Infra will purchase a 30.07% stake in construction firm PSP Projects for 6.85 billion rupees ($81.2 million), the latter said on Tuesday.Adani Infra, owned by a unit of Indian billionaire Gautam Adani's flagship Adani Enterprises,

Prahaladbhai S Patel, one of the promoters of PSP Projects, is the seller who entered into a share purchase agreement with Adani Infra (India) Limited by selling 1.19 crore equity shares of the company, representing up to 30.07% of the paid-up equity share capital of the PSP Projects.

Adani Infra, owned by a unit of Indian billionaire Gautam Adani's flagship Adani Enterprises, will purchase the shares from Prahladbhai S Patel, who leads PSP Projects and is its top shareholder

The Adani Group is in advanced stages of negotiations to buy stake in PSP Project, sources with knowledge of the matter told CNBC-TV18. Sources said that the Adani Group may acquire 60.14% stake from its promoters.

Adani operates airports, ports, roads and more, besides running a real estate company, Adani Realty, which is redeveloping Dharavi in Mumbai.

India's Adani Infra will purchase a 30.07% stake in construction firm PSP Projects for 6.85 billion rupees ($81.2 million), the latter said on Tuesday. Adani Infra, owned by a unit of Indian billionaire Gautam Adani's flagship Adani Enterprises,

Adani Infrastructure, owned by Gautam Adani's flagship company, on Tuesday (November 19) made an open offer to acquire additional 26% stake (1 crore shares) in construction firm PSP Projects at ₹642.06 per share.

Billionaire Gautam Adani agreed to buy a majority stake in PSP Projects Ltd. as his ports-to-power conglomerate seeks to enhance its engineering and construction capabilities to execute infrastructure projects.

Adani Infrastructure will purchase a 30.07 per cent stake in PSP Projects for ₹6.85 billion, valuing the firm at ₹575 per share. An open offer for additional stakes will follow, as the company has an order book worth ₹65.