Gayatri Projects approves issue of NCDs

Gayatri Projects Ltd has announced that the Board of Directors of the Company at its meeting held on October 21, 2010, inter alia, has approved the issue of Secured Redeemable Non-Convertible Debentures of Rs. 10,00,000 (Rupees Ten Lakhs) in forms of Separately Transferrable Redeemable Principal Parts (STRPPS) of face value of Rs. 1,00,000/- (Rupees one Lakh) each aggregating upto Rs. 100.00 Crores including a Green Shoe Option.

The Board approved the notice of Postal ballot for Increase of Authorised Capital and approved the Issue of corporate guarantee to IL&FS on behalf of its subsidiary Company U/s 372A of the Companies Act, 1956 for an amount not exceeding Rs. 135.00 Crores.

The stock was trading at Rs.402, up by Rs.2.45 or 0.61%. The stock hit an intraday high of Rs.404.40 and low of Rs.397.05.

The total traded quantity was 0.11 lakhs compared to 2 week average of 0.43 lakhs.

Source : Equity Bulls

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