<b>Format of Initial Disclosure to be made by an entity identified as a Large Corporate.</b><br/><br/> <table border=''1px''><tr> <td><b>Sr. No.</b></td> <td><b>Particulars</b></td> <td><b>Details</b></td> ....
GAYAPROJ · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Gayatri Projects Ltd filed its initial disclosure for FY 2023-24 under SEBI's framework for Large Corporate debt issuance. The company reported outstanding borrowings of Rs. 7,361.78 Crores as on 31st March 2024. However, it confirmed that it does not fall under the 'Large Corporate' category as per SEBI's applicability criteria. The company's bank facilities carry a CARE D (Single D) rating from CARE Ratings Ltd, the lowest rating indicating default on debt obligations. The disclosure was signed by CA Sai Ramesh Kanuparthi acting as Resolution Professional, confirming that the company is currently under the Corporate Insolvency Resolution Process (CIRP).
This is a routine SEBI compliance filing, but the underlying details are negative for shareholders — the CARE D rating confirms the company has defaulted on its debt, and a Resolution Professional is in charge, meaning Gayatri Projects is undergoing insolvency proceedings. The stock remains high-risk with significant uncertainty around recovery for equity holders.