GMR Power and Urban Infra lists at Rs46.50 on BSE; stock hits lower circuit

23 Mar 2022 , 03:27 PM

Shares of GMR Power and Urban Infra Ltd, demerged from GMR Infra, has listed today on the stock exchange. The stock hit 5% lower circuit soon after listing at Rs46.50 per equity share on the BSE and Rs48 a share on the NSE.

In the regulatory filing, the company said “Trading Members of the Exchange are hereby informed that effective from March 23, 2022, the equity shares of GMR Power and Urban Infra Ltd (Scrip Code: 543490) are listed and admitted to dealings on the Exchange in the list of ”T” Group Securities”.

The stock is currently trading at Rs44.20 down by Rs2.3 or 4.95% from its previous closing of Rs46.50 on the BSE.

The scrip opened at Rs46.50 and has touched a high and low of Rs48.80 and Rs44.20 respectively.

The National Company Law Tribunal (NCLT) in December last year approved GMR Infrastructure’s reorganisation plan comprising the demerger of the non-airport business, the company said.

GPUIL acquired the non-airport business of the GMR Group from GIL and has “some of the best-in-class infrastructure assets in India, which include state-of-the-art power plants and renewable energy assets, highways, and special investment regions.