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Gammon India, the construction and engineering major has said that it is going to make a further investment of up to Rs 675 crore in its subsidiary Gammon Power Ltd (GPL).
In a filing to BSE, Gammon India has said that “The Board of Directors…has approved further investment in its wholly-owned subsidiary Gammon Power by subscribing up to 2.25 crore equity shares of Rs 10 each at a price of Rs 300 per equity share (including a premium of Rs 290 per equity share) aggregating up to Rs 675 crore to be issued by GPL on conversion of loan due and outstanding from GPL to the company.”
