Gammon Infra to raise Rs 200 crore via right issue

Gammon Infrastructure Projects a leading construction and engineering firm has got approval to raise Rs 200 crore via rights issue. The company has received an approval at its board meeting held on May 19, 2011.

The final decision of right issue is subject to the terms being finalized with merchant bankers. However, the board deferred any decision on issue of preference shares to the promoter’s firm - Gammon India.

Gammon Infrastructure Projects is an infrastructure project development company. It is among the first companies in India to be modeled as an infrastructure developer holding company with investments spread across various sectors.