November 22, 2008

GVK ups stake in Gautami Power to 51%

GVK Power & Infrastructure Limited has informed BSE that its subsidiary Gautami Power Limited has allotted 10,60,09,912 equity shares of INR 10 each at par to GVKPIL against the share application money already invested by the company.

As a result, the equity stake of the GVKPIL in GPL has been increased from 44.97% to 51%. With this development, GPL has become a subsidiary of the company with effect from July 1st 2008.