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GMR Power and Urban Infra Ltd ( ($IN:GMRP&UI) ) has issued an announcement.
GMR Power and Urban Infra Limited announced a significant financial development concerning its associate company, GMR Rajahmundry Energy Limited (GREL). Due to the non-availability of affordable natural gas, GREL’s power plant in Andhra Pradesh has struggled to operate optimally, leading to financial restructuring. The consortium of lenders has approved a One-Time Settlement (OTS) of Rs. 657 Crores to settle GREL’s outstanding debts, with the first installment already paid. This settlement is expected to alleviate financial burdens and potentially stabilize GREL’s operations, impacting stakeholders positively.
More about GMR Power and Urban Infra Ltd
GMR Power and Urban Infra Limited operates in the energy sector, focusing on power generation and urban infrastructure development. The company is involved in setting up power plants and managing infrastructure projects, with a market focus on providing energy solutions and urban development services.
YTD Price Performance: -9.96%
Average Trading Volume: 498,594
Current Market Cap: 81.71B INR
For detailed information about GMRP&UI stock, go to TipRanks’ Stock Analysis page.