Corporate Governance30 Oct 2026, 07:02 pm
GMR Power & Urban Infra: No Deviation in Preferential Issue Fund Use
AI Summary
GMR Power and Urban Infra Ltd has confirmed no deviation in the utilization of funds raised through a Preferential Issue as of September 30, 2026. The company raised ₹1200 Crore, receiving ₹900 Crore to date, with the balance of ₹300 Crore pending warrant conversion. The funds are being utilized in line with the stated objects in the offer document, which include repayment of borrowings and infusion into subsidiaries/joint ventures. The Audit Committee has reviewed and noted the statement of nil deviation.
Key Highlights
- No deviation reported in preferential issue fund utilization for Q2 FY27.
- ₹900 Crore received out of ₹1200 Crore issue size as of Sep 30, 2026.
- Funds utilized as per original objects, including debt repayment.
- Audit Committee reviewed and noted the nil deviation statement.
Price Impact
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