GAMMON INDIA - TAKING A CORE GROWTH PATH
Article Abstract:
The construction major, Gammon India Ltd (GIL), is to float a 2:1 rights issue, aggregating Rs17.31 crore, at a premium of Rs30 per share, to expand its operations in India. The proceeds will also be used for investing in a group company engaged in infrastructure and meeting capital expenditure. The post-issue equity is expected to go up to Rs6.49 crore from Rs2.16. GIL has 4 subsidiaries engaged in different sectors of the construction industry. Freyssinet Pre-stressed Concrete Company manufactures reinforced cement concrete, Gilcon Project is into construction consultancy, Gammon Turnkey is into erection of plant and machinery on a turnkey basis and Gammon Nirman is engaged in ground engineering and environmental protection. In the 6 months ended September 30, 1997, GIL made a net profit of Rs2.97 crore on a turnover of Rs82.51 crore. (gsh)
Comment:
Will float a 2:1 rights issue, aggregating Rs17.31 crore, at a premium of Rs30 per share, to expand its operations in India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
JMC PROJECTS EYES CORE SECTOR, SEEKS JV PARTNER
Article Abstract:
JMC Projects (India) Limited, engaged in construction of industrial complexes, plans to enter infrastructure projects construction. It plans to take in an Indian or an overseas company as its partner. The company has business activities in Gujarat, Maharashtra and southern India. It proposes to focus in the three states of Karnataka, Andhra Pradesh and Tamil Nadu. Its turnover has risen from Rs7 crore in 1994 to Rs85 crore in 1997- 98. It has completed the Mitsubishi Lancer car plant of Hindustan Motors at Chennai and the scooter plant of TVS Suzuki Limited among others. (rk)
Comment:
Industrial complexes construction co plans to enter infrastructure projects construction
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
GAMMON INDIA: STRONG FOUNDATIONS
Article Abstract:
Gammon India is coming out with a Rs17.31 crore rights issue at a premium of Rs30 per share in the ratio of two shares for every one held. Out of the proceeds of the issue, the company plans to use Rs7.15 crore for capital expenditure and Rs10 crore to be invested in Gammon Infrastructure Ltd. The company has posted a compounded annual growth rate of 19 percent in the last five years. Its paid-up capital will increase to Rs6.49 crore after the rights issue from Rs2.16 crore at present. It has construction projects worth Rs883 crore at present. (khr)
Comment:
Comes out with a Rs17.31 crore rights issue at a premium of Rs30 per share in the ratio of two shares for every one held
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic: