GMR Power and Urban Infra’s wholly owned subsidiary -- GMR Energy (GEL) has acquired 5,09,80,769 Equity Shares of GMR Kamalanga Energy (GKEL) (representing 2.37% of the equity share capital of GKEL) from IDFC First Bank (IDFC) at a negotiated consideration amount of Rs 60 crore (Transaction).
The transaction will consolidate the existing stake of the Company in GKEL close to about 100% and will result in improved strategic control of the Company over GKEL.
GMR Power and Urban Infra holds expertise in the sectors of Energy, Urban Infrastructure and Transportation. Urbanization has given the country rapid growth and contributing towards this growth.
