Dalmia approaching FIs, FIIs for Gesco stake
Mumbai: In the ongoing war for control over Gesco Corporation, corporate raiders, the Dalmia Group, is understood to be in talks with financial institutions and foreign institutional investors for block buying of their shares in Gesco. FIs hold 13.5 per cent in Gesco while FIIs hold 12.5 per cent.

It is also understood that the institutions are looking out for an exit route from the company and are only waiting to see if the Sheth-family controlled Gesco makes a counter offer.

Despite a Rs 16.5 crore turnover, Gesco has fixed assets valued at Rs 90 crore, liquid investments of Rs 37.9 crore and reserves and surplus of Rs 124 crore.
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