Acquisitions30 March 2026 at 05:21 pm
GMR Power and Urban Infra Acquires Additional 2.37% Stake in GMR Kamalanga Energy for Rs. 60 Crore
AI Summary
GMR Power and Urban Infra Limited’s subsidiary, GMR Energy Limited, has acquired 5,09,80,769 Equity Shares of GMR Kamalanga Energy Limited from IDFC First Bank Limited. This acquisition, made at a consideration of Rs. 60 Crore, will consolidate the Company's stake in GKEL close to about 100%, thereby improving strategic control. GKEL operates a 1050 MW coal-based plant with a turnover of Rs. 3017 Crore for FY 2024-25.
Key Highlights
- GMR Energy Limited acquires 2.37% stake in GMR Kamalanga Energy Limited from IDFC First Bank Limited
- Transaction consideration amount is Rs. 60 Crore
- This acquisition will consolidate the Company's stake in GKEL close to about 100%
- GKEL operates a 1050 MW coal-based plant
- GKEL's turnover for FY 2024-25 was Rs. 3017 Crore