GMR Power and Urban Infra has acquired 100% stake in GMR Smart Electricity Distribution (GSEDPL) (formerly known as GMR Mining & Energy) from its Subsidiary Company, GMR Generation Assets (GGAL). While GSEDPL is already a subsidiary of the Company, the proposed acquisition only increases the effective holding from about 82% to 100%.
The Company has acquired entire 50,000 equity shares of GSEDPL at face value of Rs 10 each for an aggregate cash consideration of Rs 5 lakh based on the valuation derived by independent valuer.
GSEDPL was originally incorporated as GMR Mining & Energy, for carrying on the business of power distribution including smart metering business. The acquisition did not require any government or regulatory approval. Pursuant to the above acquisition, GSEDPL 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.
| Company Name | CMP |
|---|---|
| NTPC | 396.10 |
| Tata Power | 435.70 |
| Adani Power | 203.05 |
| Power Grid Corp | 319.30 |
| Torrent Power | 1622.05 |
| View more.. | |
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