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GMR Power and Urban acquires additional stake in GSEDPL

13 Sep 2023 Evaluate

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.

GMR Power and Urban Share Price

108.31 0.97 (0.90%)
21-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
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