GMR Power and Urban Infra has acquired 100% stake in GMR Green Energy (GGEPL) from GMR Solar Energy (GSEPL) a fellow subsidiary. The company has acquired entire 50,000 equity shares of GGEPL at face value of Rs 10 each for an aggregate cash consideration of Rs 5,00,000 on June 21, 2022.
GGEPL was incorporated during the year 2022 with the objective to pursue opportunities in the Green Energy business and is yet to commence commercial operations. Pursuant to the above acquisition, GGEPL would become a Wholly Owned Subsidiary of the Company.
GMR Power and Urban Infra, a subsidiary of GEPL holds expertise in the sectors of Energy, Urban Infrastructure and Transportation.
