GMR Infrastructure today said its two group companies have entered into a share subscription and shareholders agreement with two financing firms Infrastructure Development Finance Company (IDFC) and India Infrastructure Fund.
"A share subscription and shareholders Agreement (SHA) has been entered amongst GMR Kamalanga Energy, GMR Energy, India Infrastructure Fund and IDFC on September 29," GMR Infra said in a filing to the Bombay Stock Exchange (BSE).
"As per the SHA, IDFC and India Infrastructure Fund have agreed to subscribe to 20 per cent of the equity share capital of GMR Kamalanga Energy," it further said.
GMR Kamalanga Energy is a subsidiary of GMR Energy, which is also a subsidiary company of GMR Infrastructure.
GMR Kamalanga Energy is developing a 1,050 Mega Watt coal-based power project at Kamalanga village in Dhenkanal, Orissa.
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