PSP Projects: shareholders to vote on board changes, Adani deal, related party transactions

PSP Projects Limited has announced a postal ballot for shareholders to consider several key resolutions, with voting commencing on October 7, 2025, and concluding on November 5, 2025. Among the proposals is the appointment of Kattunga Srinivasa Rao as a non-executive non-independent director for a five-year term, effective August 5, 2025. Additionally, Girishkumar Singal is proposed as a non-executive independent director for a first term of five years, starting September 1, 2025.

The ballot also seeks approval for the remuneration of Pooja Patel, chief executive of the company, for holding a place of profit, with proposed annual remuneration not exceeding ₹3,00,00,000. Furthermore, shareholders will vote on adopting amended articles of association and granting special rights to identified shareholders, including Acquirer Adani Infra (India) Limited and existing promoters, following a 34.41% stake acquisition by Adani Infra.

A series of material related party transactions for the financial year 2025-26 are also up for approval. These include transactions with ACC Limited (valued at 621 crores), Adani Airport Holdings Limited (323 crores), Adani Infra (India) Limited (460 crores), Adani Power Limited (346 crores), and Ahmedabad International Airport Limited (316 crores). The aggregate value of these transactions is expected to exceed the materiality threshold of ₹252 crores for the financial year.