Infrastructure and construction company, Gayatri Projects has raised Rs 144 crore through a rights issue of shares. The rights issue, which was open for subscription from March 5 till March 19, has been fully subscribed and the company allotted 11,989,000 equity shares at an issue price of Rs 120 in the ratio of 1:1.
The allotment of shares was done on March 27, 2012 and the company is in the process of getting listing and trading approval. Following the rights issue, the promoter's stake in the company has gone up from 55% to 63.47%.
Edelweiss Capital was the lead manager to the issue Karvy Computershare was registrars to the issue.
Gayatri Projects, an ISO 9001 - 2000 company, is one of the fastest growing construction companies in India executing major civil works including construction of concrete/masonry dams, earthen dams, national highways, bridges, canals, aqueducts, airports, ports, etc.
