1. Home
  2. >

Built to inform

Sign up for the daily newsletters

No, Thank you

Gammon Infra acquires majority stake in VSPL

Gammon Infrastructure Projects has acquired 22.8 million shares of Vizag Seaport (VSPL) increasing its stake in the firm to 73.76% and made it a subsidiary of the company. VSPL owns two berths, handling bulk cargo, at the Visakhapatnam port.
"The company has concluded the purchase of 22.8 million equity shares of Rs10 each of VSPL from International Port Services, the investment arm of Portia Management Services of the UK," Gammon Infrastructure Projects said in a statement.
"The shareholding of the company in VSPL stands increased to 73.76%, making VSPL a subsidiary of the company with effect from October 1," the statement added.

Most Popular


Olympia Group announces to build up 1.1mn sq-ft greenfield it park in Guindy
The project will have a total investment of about Rs 750 crore


Vital pre-monsoon building works resume in Maharashtra
The state government has permitted pre-monsoon work by BMC and other agencies

Latest Issue

June 2020
10 Jun 2020