The Financial Express reported that Gammon India has received an investment proposal from the Italian ICAP Group for its transmission and distribution (T&D) business following a strategic debt restructuring (SDR) of the firm by lenders in November last year,.
Shares in the company were last trading at Rs 16.80, up 6 per cent over Monday's close. Gammon India has been in the news in the last few months, as the company has not been able to meet obligation towards bankers. This has led to a debt restructuring exercise at the company. It is now believed that banks hold a majority of shares in the company, post the SDR.