Company News

| Updated on January 22, 2018 Published on November 18, 2015

The board of Gammon India is evaluating proposals from potential investors for its civil engineering, procurement and construction business, the company said in a filing with the stock exchanges. Gammon India had earlier announced the transfer of its civil EPC business operations to a wholly-owned subsidiary, Gammon Retail Infrastructure Pvt Ltd, on slump sale basis. The transfer is subject to approval from lenders and shareholders, Gammon India said. Gammon India is also looking to monetise its investments in land, overseas assets, and non-core business. Shares of Gammon India rose 5.3 per cent at ₹12.85 on the NSE.

Suzlon Energy will allot 1.558 crore shares at ₹15.46 each to its lenders on conversion of 4,000 foreign currency convertible bonds in 2019, the company said in a notification to the exchanges. The Pune-based company said the conversion has been done at a fixed rate of exchange of ₹60.2250 to the dollar. The conversion is in accordance with the information memorandum signed after certain bondholders sent conversion notice to the company. In July last year, the company had issued these securities following restructuring of its bonds worth $175 million due in April 2016. Shares of Suzlon Energy ended down 0.9 per cent at ₹21.60 on the NSE.

Swan Energy has informed the exchange that the company has signed a term sheet with Exmar Marine NV, Belgium, for joint development and operation of its FSRU-based LNG terminal project at Jafrabad, Gujarat. However, the company has not provided any other details, including financial. Shares of Swan Energy slipped marginally to ₹69.5 from its previous closing price of ₹69.8.

Published on November 18, 2015
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