GMR Power board clears Rs 1,200-cr preferential issue

GMR Power and Urban Infra said that its board has approved raising up to Rs 1,200 crore through the issuance of equity shares and convertible warrants to select investors on a preferential basis.

The company will issue up to 6,61,81,335 equity shares of face value of Rs 5 each, at an issue price of Rs. 120.88 each including the premium of Rs. 115.88, aggregating to an amount upto Rs 800 crore. The equity shares will be allotted to Synergy Industrials, Metals and Power Holdings and Credit Solutions India Trust.

In addition, the company will issue upto 3,30,90,668 convertible warrants of face value of Rs 5 each, each carrying a right to subscribe to 1 equity share at an issue price of Rs. 120.88 each per convertible warrant inclusive of premium of Rs. 115.88 The warrant issue will aggregate up to Rs 400 crore and will be allotted to Hyderabad Jabilli Properties.

The tenure of the warrants shall not exceed 18 months. Warrant Allottee does not exercise the Warrants within the aforesaid period, the unexercised Warrants shall lapse and the amount paid by the Warrant allottee will be forfeited.

GMR Power and Urban Infra a subsidiary of GMR Enterprises (GEPL) holds expertise in the sectors of Energy, Urban Infrastructure and Transportation. Urbanization has given the country rapid growth and contributing towards this growth, GMR Group ventured into this business sector.

The companys consolidated net profit surged 248.2% to Rs 888.39 crore on 30.8% jump in net sales to Rs 1810.36 crore in Q2 FY26 over Q2 FY25.

The counter declined 0.53% to Rs 113.60 on the BSE.

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