Gayatri Projects Limited (GPL), on Monday got listed on the National Stock
Exchange (NSE), ended the day’s trade up 5.73 per cent at Rs. 148.55. Earlier, it was traded at Bombay Stock Exchange (BSE).
The Hyderabad-based infrastructure company has an order book of Rs. 8,500 crore, covering national and state highways, dams, reservoirs, ash ponds and major canal works.
The Board of Directors today approved dividend of Rs. 5 per equity share for the financial year ended March 31, 2011. It further said that the company approved postal ballot notice to issue corporate guarantee to Mohan Project Contractors Private Limited for Rs. 30 crore.
The Gayatri management announced it received Letter of Award (LOA) from Naional Highways Authority of India for four lane work of Panikoill - Rimuli Section of NH-215 from Km 0 to Km 163.000 in Orissa to be executed on BOT (Toll) Project on under NHDP Phase-III.
According to company sources, its efforts to raise funds through private equity deal may get delayed by few months due to the current market conditions. The company was expecting to raise about $250 million through private equity for some of the ongoing projects and also funds by offer of rights issue to shareholders. The SEBI nod for rights issue is awaited.
The company share closed the day’s trade at NSE up 5.73 per cent at Rs.148.55 and up 3.91 per cent (Rs.146) at BSE.