• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Hyderabad, Feb. 26 Gayatri Projects Ltd has decided to float a 100 per cent subsidiary to implement build operate transfer projects.

The subsidiary called Gayatri Infraventures Ltd will get Rs 124.59 crore through equity/quasi-equity from GPL and facilitate equity dilution to strategic investors to raise funds for further investment into BOT projects.

The decision was approved by the company’s board at its meeting today. Further, the board okayed the proposal for issue and allotment of 15 lakh convertible share warrants to the promoters at a price of Rs 500.78 calculated in accordance with the SEBI guidelines and each warrant is convertible into one equity share of Rs 10 each. The company has also allotted 1,04,761 equity shares of Rs 10 each to Copthall Mauritius Investment upon conversion of 120 million Yen worth FCCBs at Rs 378.3453 per equity share (pre determined price).

More Stories on : Restructuring | Real Estate & Construction

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
RIL gas find in Mahanadi basin block

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line