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Gammon Infrastructure Projects has received approval from shareholders to raise the investment limit of foreign institutional investors in the company to 49 per cent from 24 per cent earlier, the company informed the exchanges. Currently, FIIs hold 7.55 per cent stake in the company. The company has also received approval to amend the Articles of Association to increase the maximum strength of the board of directors to 15 and to arm the promoters with the right to nominate directors on the board. Shares of Gammon Infra were down 2 per cent at ₹14.60 on the NSE.
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