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The board of directors of Gayatri Projects Ltd has approved a move to raise up to Rs 400 crore by issue of equity shares /warrants or a combination to the company shareholders on a rights basis. The other details of the proposed issue may be taken up at a later date, according to a statement filed with the stock exchanges. The company has also approved an investment of Rs 1,000 crore through its wholly-owned subsidiary GEVPL in tranches according to the project requirement in NCC Power Projects Ltd and its subsidiary or its associate.
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