Gayatri Projects gets shareholders’ nod to raise Rs1,000 crore
New Delhi: Gayatri Projects has received shareholders’ approval to raise Rs1,000 crore by issuing securities in its annual general meeting held on Saturday.
The proposal to issue securities to eligible investors, subject to an aggregate maximum limit of up to an amount of Rs1,000 crore has been approved in the annual general meeting (AGM) by requisite majority, Gayatri Projects said in BSE filing.
The board intends to deploy the net proceeds from the issue of these securities for funding capital expenditure, general corporate purpose, strategic acquisitions, reduction/restructuring of debt, consolidation of the ownership of our subsidiaries, and/or investment in joint venture companies, subsidiaries, etc.
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