GMR Power Board Approves Preferential Issue to Raise Up to ₹1,200 Crore

18 Dec 2025 , 01:21 PM

GMR Power and Urban Infra Ltd said on Wednesday, December 17, that its board has approved a proposal to raise up to ₹1,200 crore through the issuance of equity shares and convertible warrants on a preferential basis, subject to shareholder and regulatory approvals.

The company plans to issue up to 6.61 crore equity shares of face value ₹5 each at an issue price of ₹120.88 per share, including a premium of ₹115.88. These shares will be allotted to non-promoter investors, aggregating up to ₹800 crore.

In addition, the board approved the issuance of up to 3.30 crore convertible warrants, each carrying the right to subscribe to one equity share at an issue price of ₹120.88, including a premium of ₹115.88. The convertible warrants will be allotted to a promoter group entity, aggregating up to ₹400 crore.

The proposed allotment will be made under the preferential issue route on a private placement basis. Synergy Industrial and Power Metals Ltd and Credit Solutions India Trust have been identified as the proposed allottees for the equity shares, while Hyderabad Jabilli Properties Private Ltd will receive the convertible warrants.

The issue price for both equity shares and warrants has been fixed at ₹120.88, which is also the floor price determined under SEBI ICDR regulations, according to the exchange filing.

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