GMR Power and Urban Infra plans ₹1200 crore preferential issue

GMR Power and Urban Infra Limited’s board of directors approved a preferential issue on December 17, 2025, to raise up to INR 1200 crore. This includes up to 66,181,335 equity shares at an issue price of INR 120.88 each, aggregating to INR 800 crore, to non-promoter entities Synergy Industrials, Metals and Power Holdings, and Credit Solutions India Trust. Additionally, up to 33,090,668 convertible warrants will be issued at INR 120.88 each, totaling INR 400 crore, to Hyderabad Jabilli Properties Private Limited, a promoter group entity.

The 'relevant date' for determining the floor price, as per SEBI ICDR Regulations, is December 17, 2025. The funds raised will primarily be used for repayment/prepayment of outstanding borrowings and general corporate purposes, with INR 1000 crore allocated to borrowings and INR 200 crore to general corporate uses within 24 months. The equity shares and warrants will be subject to lock-in periods as specified by SEBI ICDR Regulations.

The company will seek shareholder approval for the preferential issue through a postal ballot, with remote e-voting commencing on December 18, 2025, and concluding on January 16, 2026. The results are expected by January 19, 2026. This issuance is not expected to change the company’s management or control.