Gayatri Projects Limited has informed the Exchange regarding issue of 2000000 equity shares under ESPS subject to necessary approvals
GAYAPROJ · price
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Awaiting price reaction for this filing.
Gayatri Projects' board, meeting on 25 September 2025, approved raising the authorised capital to Rs. 120 crore (60 crore equity shares of Rs. 2 each). The company plans a preferential issue of up to 10 crore equity shares to the promoter (T.V. Sandeep Kumar Reddy) and up to 21.40 crore shares to non-promoter investors, all at Rs. 10 per share (Rs. 2 face value + Rs. 8 premium), potentially raising up to ~Rs. 314 crore. Non-promoter allottees include RRS Family Trust, Antara India Evergreen Fund, Dnyaneshwar Trading, Varanium India Opportunity, and several other entities/Funds. Additionally, up to 20 lakh shares will be issued under an Employee Share Purchase Scheme (ESPS). Shareholder approval will be sought at an EGM on 23 October 2025.
Existing shareholders will face significant dilution if the full ~31.4 crore preferential shares are issued. Promoter participation is a positive signal of confidence, and the capital raise could strengthen the balance sheet, though near-term share price pressure is likely due to the large issuance at a set price below likely market value.