Gateway Distriparks raises Rs 300 crores through issue of CCPS

Gateway Distriparks Ltd has now announced with reference to the approvals by the Board of Directors of the company and the Company's subsidiary Company, M/s. Gateway Rail Freight Ltd. ("GRFL"), to execute the Share Subscription and Shareholders Agreement with Blackstone GPV Capital Partners (Mauritius) V-H Ltd. ("Blackstone") pursuant to which GRFL will raise funds to the extent of Rs. 300 Crores by issue of Compulsorily Convertible Preference Shares ("CCPS") to Blackstone, that after receipt of necessary approvals and completion of Conditions precedent, Blackstone have made the full investment by remitting Rs. 300 crores and GRFL have issued CCPS for Rs. 300 Crores on August 23, 2010.

The stock closed the day at Rs.106.95, down by Rs.2 or 1.84%. The stock hit an intraday high of Rs.113 and low of Rs.106.10.

The total traded quantity was 0.59 lakhs compared to 2 week average of 1.74 lakhs.

Source : Equity Bulls

Keywords