Gayatri Projects has rallied 18% to Rs 190 ahead of its proposed Rs 144 crore rights issue. The company has fixed February 23, as the record date for the purpose of determining the shareholders who would be eligible to apply for equity shares in the proposed rights issue.
“The board of directors of the company at its meeting held on February 11, 2012, approved the issue price for the proposed rights issue of equity shares by the company as Rs 120 per equity share and the aggregate rights issue size as Rs 148 crore,” the construction and engineering company said in a filing to the stock exchanges.
As many as 60,000 equity shares have already changed hands on the counter so far, against an average 23,000 shares that were traded daily in past two weeks on the Bombay Stock Exchange (BSE).
