GMR Power and Urban Infra: No Deviation in Preferential Issue Proceeds
GMR Power and Urban Infra Ltd has confirmed no deviation or variation in the utilization of funds raised through a preferential issue as of June 30, 2026. The company raised ₹1200 Crore, receiving ₹900 Crore by the reporting date. The remaining ₹300 Crore is expected upon warrant conversion within 18 months. The utilization aligns with the stated objects in the offer document, as reviewed and noted by the Audit Committee. The funds were intended for repayment of borrowings and infusion into subsidiaries.
Key Highlights
- No deviation in utilization of preferential issue proceeds.
- ₹900 Crore received out of ₹1200 Crore total issue size.
- Funds utilized in line with stated objects.
- Audit Committee reviewed and noted the nil deviation.
- Proceeds for debt repayment and subsidiary infusion.
Price Impact
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