GVK gifts wife 23.37% in infrastructure firm

GVK gifts wife 23.37% in infrastructure firm

Hyderabad: G.V. Krishna Reddy, chairman and managing director of GVK Power and Infrastructure Ltd, is gifting 369 million shares in the firm, or a 23.37% holding, to his wife G. Indira Krishna Reddy, the company said in a statement to the stock exchanges.

Following the transfer of shares, Indira Krishna Reddy’s holding will rise to 27.61% from 4.24%, the company said in a letter dated 26 March.

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