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Mauritius group to invest Rs200 cr in Gayatri Projects

Mauritius group to invest Rs200 cr in Gayatri Projects
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First Published: Mon, Aug 04 2008. 06 50 PM IST
Updated: Mon, Aug 04 2008. 06 50 PM IST
PTI
Mumbai: Mauritius-based AMP capital finance will invest up to Rs200 crore in Gayatri Projects to subscribe to its equity shares.
Gayatri Projects has entered into definitive agreement with AMP capital finance Mauritius, that would facilitate an investment of Rs200 crore in equity of Gayatri Infra Ventures in two tranches, the company said in a filing to Bombay Stock Exchange.
AMP capital finance Mauritius (a part of the AMP group), a company incorporated under the laws of that country has agreed to invest Rs100 crore in the first tranche in equity of GIVL. AMP Capital would also consider a further equity injection of Rs100 crore as and when the need materialises.
These funds would be utilised to meet ongoing needs of existing projects as well as future bids and concessions undertaken by GIVL.
GIVL would be investing in infrastructure sector involved in construction, of roads, vehicular bridges, tunnels, and would make downstream investments in the other Indian companies undertaking such projects in the country, the filing added.
Shares of Gayatri Projects closed at Rs252.45, up 1.29% on BSE.
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First Published: Mon, Aug 04 2008. 06 50 PM IST