Construction and engineering firm
Gammon Infrastructure Projects Ltd on Friday said it has approved the Rs 200 crore rights issue.
The board of directors of the company passed a resolution to this effect at its meeting held on Thursday, Gammon
Infrastructure Projects said in a filing with the Bombay Stock Exchange.
The final decision is subject to the terms being finalised with merchant bankers, it said. However, the board deferred any decision on issue of preference shares to Gammon India Limited which is the promoter firm, it said.
The board also appointed R K Malhotra as whole time director from April 1, it said. It re-designated Himanshu Parikh as Vice-chairman on relinquishment of executive functions with effect from April 1, it added.
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