From correspondents in Delhi, India, 09:17 PM IST

C. E. Fernandes, Managing Director, GEI Industrial Systems Ltd., has acquired 25,00,000 Equity Shares (17.51%) from Compagnie Financiere Hamon (Hamon); Foreign Collaborator-Shareholder in the form of inter-se-transfer of equity shares between the Indian Promoters and Foreign Collaborator- Shareholder.

Mr. C. E. Fernandes, along with Persons Acting in Concert, who were earlier holding 24.41% of the shares or voting rights in GEI Industrial Systems Limited, have increased their holding to 41.92% (amounting to 59,84,525 shares) through this inter-se-transfer.

“Our order book position is strong, and we have also made significant inroads in the Oil & Gas and Power Sectors. Having a greater say through increase in voting rights is sure to translate into future growth.” said Mr. C.E. Fernandes, Managing Director, GEI Industrial Systems Ltd.

Source: Press Release Distribution via India PRwire