GMR Energy Limited Incorporates New Subsidiary: GMR Utkal Solar Power Limited

GMR Energy Limited, a wholly owned subsidiary of GMR Power and Urban Infra Ltd, has incorporated a new wholly owned subsidiary, GMR Utkal Solar Power Limited (GUSPL). The new subsidiary has been set up with the objective of developing a solar power project in Kamalanga, Odisha. GUSPL is currently capitalized with Rs. 1 lakh. This move does not fall under related party transactions and the promoter/promoter group/group companies do not have any interest in GUSPL. GUSPL is based in India and is yet to commence business operations.