Gammon India up 7%, to sell 26% stake in Gammon Infra Projects

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26 Aug, 2025 12:21

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Moneycontrol BureauGammon India shares rose 7.6 percent intraday Tuesday as it is going to sell 26 percent stake in Gammon Infrastructure Projects."The company, on February 20, has permitted Gammon Power to further sell/dispose off the balance 26.06 percent of the equity shares of Gammon Infrastructure Projects (GIPL) at the market price, in one or more tranches," company said in press release.The company has expressed its intention to acquire upto 20 percent of the said equity shares of GIPL from Gammon Power (GPL) at the market price in one or more tranches.The company had approved to sale of upto 30 percent of equity shares of Gammon Infrastructure Projects held through its wholly owned subsidiary Gammon Power.The said equity shares of GIPL have been currently pledge by GPL to the company's lenders as security for loans advanced to the company.At 09:30 hrs Gammon India was quoting at Rs 13.39, up Rs 0.85, or 6.78 percent on the BSE.Posted by Rakesh Patil