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,

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

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 Infra to acquire 30.07% stake in PSP Projects for ₹685 crore, aiming to boost infrastructure development in India.

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.

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

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

Adani Infra, part of the Adani Group, will acquire a 30.07% stake in PSP Projects for Rs 685.36 crore, marking a significant consolidation in the construction sector. The deal includes an open offer for an additional 26% stake,

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.