GMR Power and Urban Infra Limited (GMRP&UI)

GMR Power and Urban Infra Limited's wholly owned subsidiary, GMR Energy Limited (GEL), has incorporated a new wholly owned step-down subsidiary named GMR Andhra Pradesh Renewable Energy-II Limited (GAPREL-II). The entity was incorporated on November 04, 2026, with an initial paid-up capital of Rs 5 lakh (50,000 equity shares of Rs 10 each). The entity has been formed to explore business opportunities in renewable power generation and transmission, and is yet to commence active commercial operations.

• Incorporated wholly owned step-down subsidiary GMR Andhra Pradesh Renewable Energy-II Limited on November 04, 2026
• Initial paid-up capital is Rs 5 lakh comprising 50,000 equity shares of Rs 10 each
• GMR Energy Limited (GEL) holds 100% control via subscription to Memorandum of Association
• Entity set up for generation and transmission of power via renewable resources but has zero revenue and is yet to begin operations

GMR Power and Urban Infra released its investor presentation for Q2 and H1 FY27. In the energy division, consolidated revenue for Q2FY27 stood at Rs 1,284.4 cr with an EBITDA of Rs 359.0 cr (28% margin) and PAT of Rs 236.3 cr, supported by an exceptional income of Rs 225.9 cr. The company has cumulatively installed ~42 lakh smart meters out of its 7.57 million target, although the smart meter segment reported an IND AS net loss of Rs 17.6 cr for the quarter. Thermal power plants Warora and Kamalanga recorded PLFs of 69% and 77% respectively, impacted by planned overhaul shutdowns.

• Installed ~42 lakh smart meters cumulatively as of September 30, 2026, towards the 7.57 Mn AMI meter target
• Energy business reported Q2FY27 consolidated revenue of Rs 1,284.4 cr and EBITDA of Rs 359.0 cr (28% margin)
• Thermal plant PLF reached 69% for Warora (600 MW) and 77% for Kamalanga (1,050 MW) amid maintenance overhauls
• Smart Meter segment generated Q2FY27 revenue of Rs 112.0 cr with a net loss of Rs 17.6 cr under IND AS
• Highway business reported Q2FY27 revenue of Rs 70.6 cr, while traffic at Ambala Chandigarh toll road rose 6.2% YoY

GMR Power and Urban Infra Limited reported a statement of nil deviation or variation under Regulation 32 for the quarter ended September 30, 2026. Out of the total issue size of Rs 1,200 crore raised via preferential issue on January 27, 2026, the company has received Rs 900 crore to date. The remaining Rs 300 crore (75% balance on warrants) will be collected as warrant holders exercise conversion options over an 18-month tenure. The proceeds have been deployed strictly according to stated objects as monitored by CARE Ratings Limited.

• Nil deviation in utilization of proceeds from Rs 1,200 crore preferential issue
• Company has received Rs 900 crore as of September 30, 2026
• Balance Rs 300 crore (75% on warrants) to be received over an 18-month warrant tenure
• Monitored by CARE Ratings Limited and reviewed by the Audit Committee

GMR Power and Urban Infra announced that its Singapore-based step-down wholly owned subsidiary, GMR Coal Resources Pte. Ltd. (GCRPL), has been dissolved and voluntarily liquidated effective October 1, 2026. Confirmation was received from the Accounting and Corporate Regulatory Authority (ACRA) Singapore on October 16, 2026. GCRPL recorded nil turnover and contributed an insignificant amount to net worth in the last financial year. The liquidation has no material financial impact on GMR Power's consolidated operations (TTM revenue of Rs 7,388 Cr).

• Step-down subsidiary GMR Coal Resources Pte. Ltd. dissolved effective October 1, 2026
• Confirmation received from Singapore regulator ACRA on October 16, 2026
• GCRPL reported Nil turnover and insignificant net worth contribution during the last financial year
• Parent entity GMRP&UI TTM revenue stands at Rs 7,388 Cr with no operational disruption

Shareholders of GMR Power and Urban Infra approved alterations to the Articles of Association (AoA) at the 7th AGM held on September 21, 2026. Key amendments include inserting Article 1A, enabling further issues of share capital via rights issues, preferential allotments, ESOPs, sweat equity, convertible securities, and loan-to-equity conversions. Additionally, Article 58A sets the maximum board strength at 20 directors, alongside updated provisions for nominee and alternate directors under Articles 64 and 64A. While administrative, these changes lay the structural groundwork for potential future capital raises or debt restructuring against its current debt of Rs 1,996 crore.

• Shareholder approval obtained at the 7th AGM held on September 21, 2026
• Inserted Article 58A setting the maximum board size at 20 directors
• Inserted Article 1A enabling capital issuance including rights, preferential issues, ESOPs, and debt-to-equity conversion
• Substituted Articles 64 and 64A regarding appointment of Additional, Alternate, and Nominee Directors

At the 7th Annual General Meeting held on September 21, 2026, shareholders of GMR Power and Urban Infra approved the re-appointment of four Independent Directors. Dr. Siva Kameswari Vissa, Mr. Suresh Lilaram Narang, Dr. Satyanarayana Beela, and Dr. Emandi Sankara Rao have been re-appointed for a second consecutive term of five years. The renewed tenure is effective until the conclusion of the 12th AGM, ensuring continuity in board oversight.

• Shareholders approved re-appointment of 4 Independent Directors at the 7th AGM on September 21, 2026
• Re-appointed for a second term of 5 consecutive years, lasting until the conclusion of the 12th AGM
• Appointees include Dr. Siva Kameswari Vissa (28+ years experience) and Mr. Suresh Lilaram Narang (44+ years banking experience)
• Technical and academic oversight retained with Dr. Satyanarayana Beela (49 years experience) and Dr. Emandi Sankara Rao

GMR Power and Urban Infra Limited reported the voting results of its 7th Annual General Meeting held on September 21, 2026. All 12 resolutions were approved by shareholders with the requisite majority, with overall turnout representing 60.59% of voting capital. Key approvals included an enabling special resolution to raise funds via Qualified Institutions Placement (QIP) or FCCBs passed with 97.12% votes in favour, and material related-party transactions with GMR Warora Energy passed with 98.78% votes in favour.

• All 12 resolutions passed at the 7th AGM held on September 21, 2026
• Overall 47,31,93,147 votes polled out of 78,10,17,529 shares, marking a 60.59% turnout
• Resolution 10 enabling fundraise through QIP/FCCB passed with 97.12% votes in favour (45,95,52,548 votes)
• Resolutions 11 and 12 regarding material related party transactions with GMR Warora Energy passed with 98.78% in favour
• Total number of shareholders on record date (September 14, 2026) stood at 3,27,006

GMR Power and Urban Infra Limited has issued notice for its 7th Annual General Meeting (AGM) scheduled for September 21, 2026. The company is seeking an enabling approval from shareholders to raise up to ₹3,000 Crore via QIP, equity shares, FCCBs, or convertible securities. The proposed ₹3,000 Crore fundraise represents ~44.0% of the company's current market capitalization of ₹6,824 Crore. The notice also covers the reappointment of independent directors and sets the cut-off date for e-voting as September 14, 2026.

• Shareholder approval sought for fundraise of up to ₹3,000 Crore in one or more tranches
• Instruments include QIP, Equity Shares, NCDs with warrants, and/or FCCBs
• 7th AGM scheduled for Monday, September 21, 2026 at 11:00 AM IST via Video Conferencing
• Cut-off date for voting eligibility set as Monday, September 14, 2026, with e-voting open from September 17 to September 20, 2026

GMR Power and Urban Infra released its Q1FY27 investor presentation highlighting operational and financial metrics across key segments. Consolidated continuing operations posted a net loss of ₹35.4 Cr (INR 354 mn) in Q1FY27 compared to a loss of ₹35.0 Cr in Q1FY26. The Energy segment generated revenue of ₹1,355 Cr with an EBITDA of ₹459 Cr (33% margin), supported by strong Plant Load Factors (PLF) of 90% at Warora (600 MW) and 87% at Kamalanga (1,050 MW). In Smart Metering, cumulative installations crossed ~41 lakh units by July 31, 2026, though the segment reported a quarterly EBITDA loss of ₹2.6 Cr.

• Energy business delivered Q1FY27 revenue of ₹1,355 Cr (INR 13,550 mn) with EBITDA of ₹459 Cr and PAT of ₹73 Cr
• Warora and Kamalanga thermal plants achieved high PLFs of 90% and 87% respectively, outperforming private IPP average of ~77%
• Smart meter installations reached ~41 lakh units as of July 31, 2026 (40.2 lakh as of June 30, 2026) against a total portfolio of 7.57 Mn meters
• Smart Meter segment logged Q1FY27 revenue of ₹224.5 Cr with an EBITDA loss of ₹2.6 Cr and net loss of ₹33.9 Cr
• Highway business reported Q1FY27 revenue of ₹57 Cr with EBITDA of ₹35.3 Cr (54% margin) and toll traffic growth of 5.8% YoY

GMR Power and Urban Infra Limited submitted its quarterly statement of deviation or variation under Regulation 32 for the quarter ended June 30, 2026. The company confirmed nil deviation in the utilization of funds from its Rs 1,200 crore preferential issue raised on January 27, 2026. Out of the total issue size, Rs 900 crore has been received up to June 30, 2026, including an upfront 25% consideration on warrants. The remaining Rs 300 crore (75%) is slated to be received upon warrant conversion within the 18-month tenure, with CARE Ratings Limited acting as the monitoring agency.

• Total preferential issue size stands at Rs 1,200 crore, raised on January 27, 2026
• Rs 900 crore collected as of June 30, 2026, including 25% upfront warrant subscription
• Balance Rs 300 crore (75%) receivable upon warrant conversion during the 18-month tenure
• Zero deviation reported from the stated objects of the issue, reviewed by Audit Committee and CARE Ratings Limited

GMR Power and Urban Infra's Board has approved an enabling resolution to raise funds up to Rs 3,000 crore via equity, QIP, convertible securities, NCDs with warrants, or FCCBs, subject to shareholder approval. This enabling limit represents ~43.0% of the company's current market cap of Rs 6,979 crore and ~40.9% of TTM revenue (Rs 7,332 crore). The Board also approved unaudited standalone and consolidated financial results for Q1 ended June 30, 2026, and recommended alterations to the Articles of Association (AOA). Furthermore, four Independent Directors were re-appointed for a second 5-year term, and M/s JSN & Co. was re-appointed as Cost Auditor for FY 2026-27.

• Approved enabling resolution for raising funds up to Rs 3,000 crore in one or more tranches via equity, QIP, NCDs, or FCCBs.
• Proposed fundraise limit represents ~43.0% of current market capitalization (Rs 6,979 crore).
• Approved un-audited standalone and consolidated financial results for the quarter ended June 30, 2026.
• Approved alteration of the Articles of Association (AOA) to broad-base with the Companies Act 2013.
• Re-appointed four Independent Directors for a second term of 5 consecutive years.

GMR Power and Urban Infra's Board has approved an enabling resolution to raise up to ₹3,000 crore through equity shares, QIP, FCCBs, or convertible securities, subject to shareholder approval. The proposed fundraise is sizable, representing ~43.0% of the company's current market cap of ₹6,979 crore and ~40.9% of TTM revenue (₹7,332 crore). Additionally, the Board approved Q1 unaudited financial results, re-appointed four Independent Directors for a second 5-year term, and re-appointed M/s. JSN & Co. as Cost Auditor for FY 2026-27.

• Approved enabling resolution for raising funds up to ₹3,000 crore via equity, QIP, FCCBs, or convertible debentures, subject to shareholder approval.
• Proposed fundraise limit of ₹3,000 crore equals ~43.0% of company market capitalization (₹6,979 crore).
• Re-appointed four Independent Directors for a second 5-year term from the 7th AGM to the 12th AGM.
• Re-appointed M/s. JSN & Co., Cost Accountants, as Cost Auditor for FY 2026-27 for a term of 1 year.
• Auditor review notes highlight investments of ₹2,747.56 crore in GEL and pending Supreme Court dispute over ₹616.33 crore transmission charges.

GMR Power and Urban Infra Limited (GMRP&UI) has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent, KFin Technologies Limited, confirmed that no dematerialization requests were received during the quarter ended June 30, 2026. The filing also clarifies that the company currently has no physical shares in circulation, indicating a fully digitized shareholding structure.

• Zero demat requests were received or processed during the quarter ended June 30, 2026
• Registrar KFin Technologies Limited issued the confirmation certificate on July 9, 2026
• The company confirmed it has 0 physical shares in existence
• Compliance filing submitted to BSE and NSE on July 15, 2026

GMR Power and Urban Infra's step-down subsidiary, GMR Kalinga Solar Power Limited (GKSPL), has transitioned from a wholly-owned subsidiary to a 71% owned subsidiary. This change follows an equity infusion by Grasim Industries Limited, which now holds a 29% stake in the project. GKSPL is developing a 10 MW captive solar power plant in Kamalanga, Odisha, specifically to supply power to Grasim under a long-term agreement. While the 10 MW capacity is small relative to GMR's overall operations, it represents a strategic partnership with a major industrial consumer.

• GKSPL is developing a ~10 MW captive solar power plant in Kamalanga, Odisha
• Grasim Industries Limited has acquired a 29% equity stake in the project company
• GMR Energy Limited (GEL) retains a 71% majority stake in the step-down subsidiary
• The share allotment was finalized on July 08, 2026, following the first tranche of subscription
• The project is based on a design, build, finance, and operate model for captive supply