Gayatri Projects Ltd - 532767 - Completion Of Transaction With Regard To Disposal Of Assets/Shares Held By Material Subsidiary M/S. Gayatri Energy Ventures Private Limited (GEVPL) - Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requiremets) Regulations, 2015 Reg,
Gayatri Projects Limited ('GPL' or the 'Company') announces that it has concluded the sale of its 5.95% stake in the power assets of Sembcorp Energy India Limited ('SEIL'), held through its material subsidiary Gayatri Energy Ventures Private Limited ('GEVPL'), for cash proceeds of INR 406.77 Crores. The company had signed a non-binding definitive agreement on December 04, 2019 and has now successfully completed the said transaction. The proceeds from the above sale INR 206.85 crores would be used towards repayment of Debentures issued by GEVPL to ECL Finance Limited and Edelweiss Credit Opportunities Fund and balance amount would be used for meeting the working capital requirements of the company and for other general corporate purpose. The above transaction is based on a basic value of INR 7000 crores for SEIL. GPL will realise the full value of its stake whenever a market discovered value is available.02-01-2020