Interups, Inc. (OTCPK:ITUP) of New York is a fund led by Indian born Laxmi Prasad. It has started discussions to acquire 49% stake in Gayatri Projects Limited (BSE:532767), an engineering, procurement and construction (EPC) focussed infrastructure company that is grappling with severe cash flow issues with the COVID-19 pandemic. Interups has notified the US Securities and Exchange Commission on the signing of the memorandum of understanding (MoU) with Gayatri Projects for acquiring 49% stake in it.

The deal, when finalised, will trigger an open offer.