US fund Interups set to buy 49% stake in Gayatri Projects

Interups Inc, a New York-based fund led by India-born Laxmi Prasad, has begun talks to buy a 49% stake in publicly listed Gayatri Projects Ltd as the engineering, procurement and construction (EPC) focussed infrastructure firm struggles with severe cash flow issues in the wake of the pandemic. The deal, when finalised, will trigger an open offer per Sebi rules. The promoter and promoter group hold a 44.66% stake in the company while the remaining 55.34% is with the public.