The Foreign institutional investors, Afrin Dia has picked up 9.32% and India Max Investment Fund has picked up 7.97% in Gayatri Projects through a Qualified Institutional Investment (QIP) offering. Afrin Dia has acquired 28,20,000 crore shares constituting 9.32% stake and India Max Investment Fund has acquired 23,57,000 shares amounting to 7.97% stake of the company by subscribing to the QIP. India Max Investment Fund is a sub-account of Rahn & Bodmer Company while Afrin Dia is a sub-account of Icon Capital.
Till end of September month, the promoters of the company held 63.47% stake. Besides, the issue and allotment committee of the company had on December 17 authorized issue up to 62,58,752 equity shares at a price of Rs 120.18 per share through QIP and other available means.
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.
