Gayatri Projects Ltd to raise upto US$30 million

Gayatri Projects Ltd has announced that the Board of Directors of the Company at its meeting held on April 28, 2007, inter alia, has approved the following:

1. Issue of Equity shares / other securities by way of GDRs / FCCBs / QIP's to Qualified Institutional Buyers and others as per SEBI and other applicable guidelines for an amount not exceeding USD 30 Million.

2. To Convene Extra Ordinary General Meeting on May 28, 2007 for approval of item (1).

Source : Equity Bulls

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