Gayatri Projects has received shareholders' approval to raise Rs 1,000 crore by issuing securities in its annual general meeting held today.
The proposal to issue issue securities to eligible investors, subject to an aggregate maximum limit of up to an amount of Rs 1,000 crore in the AGM by requisite majority, Gayatri Projects said in BSE filing.
The Board intends to deploy the net proceeds from the issue of these securities for funding capital expenditure, general corporate purpose, strategic acquisitions, reduction/restructuring of debt, consolidation of the ownership of our subsidiaries, and/or investment in joint venture companies, subsidiaries etc.
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