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GMR Power and Urban Infra Ltd ( ($IN:GMRP&UI) ) just unveiled an announcement.
GMR Power and Urban Infra Limited has approved and completed a preferential issue comprising the allotment of 66,181,335 equity shares and 33,090,668 convertible warrants at an issue price of Rs. 120.88 per security, raising a total consideration of approximately Rs. 900 crore. The equity shares have been allotted to non-promoter public investors Synergy Industrials, Metals and Power Holdings Limited and Credit Solutions India Trust, while the warrants have been allotted to promoter group entity Hyderabad Jabillli Properties Private Limited, increasing the company’s paid-up equity capital and providing a clear pathway for further capital infusion upon warrant conversion; the company will now seek listing and trading approval for the new shares, a move that strengthens its balance sheet and potentially enhances its financial flexibility for future projects in the power and urban infrastructure space.
More about GMR Power and Urban Infra Ltd
GMR Power and Urban Infra Limited operates in the power and urban infrastructure sector in India, focusing on developing, operating and managing power assets and related urban infrastructure projects. The company is part of the GMR Group and is listed on both BSE and NSE, giving it access to domestic capital markets for its expansion and funding needs.
Average Trading Volume: 242,657
Current Market Cap: 72.7B INR
See more insights into GMRP&UI stock on TipRanks’ Stock Analysis page.