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Aug 22, 2011, 03.59 PM IST
Gayatri Projects expects stake sale to private equity players in two of its units to raise about USD 250 million to get delayed to up to December as the market conditions are not conducive now and the funds are not immediately required, a senior company official said on Monday.
"It is going to take some more time. Hopefully, I think, before December we will have some concrete fund raising plan," TV Sandeep Reddy, director told Reuters over the telephone. The Hyderabad-based firm earlier expected PE deals to get closed by June-August and raise funds via rights issue by end if June, but as it awaits SEBI clearance for its rights issue now it expects the issue to get over latest by November. "The pricing and issue size will depend on the financial situation, it is too early..." he said.
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