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 Infra will buy a 30.07% stake in the construction company PSP Projects for Rs 6.85 billion (around $81.2 million), PSP Projects announced on Tuesday. Adani Infra, part of billionaire Gautam Adani's 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.

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.

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.

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.