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

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,

PSP Projects has a market capitalisation of Rs 2,800 crore. Adani Group is reportedly in talks to acquire a controlling stake in the construction company, which is likely to trigger an open offer.

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.

Shares of Gujarat-based PSP Projects surged 14.5% to Rs 452.45 on the BSE following reports that the Adani Group is in talks to acquire a 60.14% majority stake in the company. The deal could trigger an open offer for an additional 26% stake from public shareholders.