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IFCI funds 
250 crore to Gayatri Energy Venture
By siliconindia
Hyderabad: Gayatri Energy Ventures owned by Gayatri Projects, raises 
250 crore from IFCI (Industrial Finance Corporation of India) through issue of compulsory convertible debentures. The quantum of the stake that IFCI would pick post conversion is not yet disclosed, reports dealcurry.com.
GEVPL announced that the fund will be used for bank rolling proposed investments in the energy domain.
Since its inception in 1975, Gayatri Projects continues to put their part of efforts for the development of modern India. Starting as infrastructure to housing development now they are a company with an annual turnover of more than 1004 crore. IFCI was established on July 1, 1948 as the first Development Financial Institution in the country. Its main function was to lend long-term finance needs of the Industrial Sector.
250 crore from IFCI (Industrial Finance Corporation of India) through issue of compulsory convertible debentures. The quantum of the stake that IFCI would pick post conversion is not yet disclosed, reports dealcurry.com.
GEVPL announced that the fund will be used for bank rolling proposed investments in the energy domain.
Since its inception in 1975, Gayatri Projects continues to put their part of efforts for the development of modern India. Starting as infrastructure to housing development now they are a company with an annual turnover of more than 1004 crore. IFCI was established on July 1, 1948 as the first Development Financial Institution in the country. Its main function was to lend long-term finance needs of the Industrial Sector.
