PSP Projects Limited — Board Meeting, 19-11-2024: Outcome of Board Meeting

The Board of Directors has noted the execution of a share purchase agreement (SPA) whereby Adani Infra (India) Limited will acquire up to 30.07% of equity share capital from promoter Mr. Prahaladbhai S. Patel, for up to ₹685.36 crore. In conjunction, a shareholders agreement (SHA) with the Acquirer and the Existing Promoter Group has been approved, outlining their rights and obligations. Following this transaction, the Acquirer will gain joint control of the Company and will be classified as a promoter, impacting future governance structures significantly.