G Indira Reddy resigns from GVK PIL board

The wife of group founder and chairman GVK Reddy holds 14.59% equity (over 230 mn shares), the largest stake held by any individual of the promoters group

G Indira Krishna Reddy, one of the promoter directors of GVK Power and Infrastructure Limited, has resigned from the board.

The company today informed the Bombay Stock Exchange (BSE) it had received a letter of resignation dated December 2, 2014, from Indira Reddy. "The said resignation is due to her prior commitments and health reasons and is effective from December, 11, 2014," the company said. She is the spouse of GVK Group's founder and chairman G V Krishna Reddy.

The promoters group consists of 11 individuals and entities, which hold 54.25 per cent stake in the company.

Indira Reddy holds 14.59 per cent equity (over 230 million shares), the largest stake held by any individual of the promoters group, while GV Krishna Reddy holds just little over 7.8 million shares or 0.5 per cent of the total equity base of the company.

Their son and vice chairman of the company G V Sanjay Reddy holds 9.77 per cent stake or a little over 150 million shares in the company, next to Indira Reddy.