Gammon Infra Projects to raise Rs 259 cr through QIP

Image
Press Trust of India New Delhi
Last Updated : Sep 08 2014 | 8:45 PM IST
Gammon Infrastructure Projects today said it has received shareholders' nod to raise Rs 259 crore through a qualified institutional placement (QIP).
"The QIP Committee of Directors at its meeting held on September 08, 2014, has approved the issue and allotment of 20,41,74,286 equity shares to eligible qualified institutional buyers at the issue price of Rs. 12.68 per equity share, aggregating to approximately Rs. 258.89 crores," the company said in a filing to the BSE.
Gammon Infrastructure Projects Limited (GIPL) is an infrastructure project development company incorporated by Gammon India Limited, to participate in the development of infrastructure projects on a public private partnership (PPP) basis.
Shares of the company closed at Rs 14.31 per scrip on the BSE, down 2.59 per cent from previous closing.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 08 2014 | 8:45 PM IST

Next Story