Gammon India has informed that the Board of Directors of the Company at its meeting held on March 31, 2016, at shorter notice, which commenced at 9.00 am and concluded at 9.35 am, approved further investment in its wholly owned subsidiary Gammon Power (GPL) by subscribing up to 2.25 crore equity shares of Rs 10 each at a price of Rs 300 per equity share (including a premium of Rs 290 per equity share) aggregating up to Rs 675 crores to be issued by GPL on conversion of loan due and outstanding from GPL to the Company.
The above information is a part of company’s filings submitted to BSE.
