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| Exchange Disseminated Time | With referene to the earlier annoucement (outcome of Board Meeting) dated May 29, 2014 about change in TPCIL's status as a subsidiary to Gayatri (GPL), Gayatri Projects Ltd has now informed BSE that SEMBCORP UTILITIES., a Joint Venture Partner of Gayatri in TPCIL, has consolidated its Equity stake from 49% to 65%, partly by way of conversion of Cumulative Participatory Redeemable Convertible Preference Shares into equity and partly by way of fresh infusion of Equity. Thus, retaining Gayatri's stake at 35%.
About TPCIL: Thermal Powertech Corporation India Ltd., (TPCIL), a company incorporated under Company's Act 1956, is a joint venture between Gayatri Energy Venture Pvt Ltd (GEVPL), a wholly-owned subsidiary company of Gayatri Projects Ltd., and Singapore-based Sembcorp Utilities, a wholly-owned subsidiary of Sembcorp Industries Ltd, to build, own and operate a 1,320-megawatt (2x660MW units) coal-fired power plant located near sea coast of Bay of Bengal at Krishnapatnam, Mutukur Mandal, SPS Nellore District of Andhra Pradesh, India. |
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