GMR Kalinga Solar Changes Subsidiary Status Following Equity Infusion from Grasim Industries
GMR Power and Urban Infra Ltd has seen a change in the status of its subsidiary, GMR Kalinga Solar Power Limited (GKSPL), following an equity infusion agreement with Grasim Industries Limited. The allotment of shares has transitioned GKSPL from a Wholly Owned Subsidiary (WOS) to a step-down subsidiary of the parent company.This restructuring follows GKSPL's initial incorporation as a wholly owned subsidiary of GMR Energy Limited, which is itself a WOS of GMR Power and Urban Infra Ltd. GKSPL was established for the development of a 10 MW captive solar power generating plant in Kamalanga, Odisha, based on a design, build, finance, operate basis.
The change occurred after GKSPL entered into a long-term agreement with Grasim Industries Limited for supplying power. The equity infusion has seen GEL commit 71% of the project, while Grasim holds the remaining 29%.
On July 08, 2026, the Board of directors of GKSPL allotted equity shares to GEL and Grasim in the specified ratio upon receiving the first tranche of the subscription amount. This transaction led directly to the modification of GKSPL's corporate status.
The key details regarding the project partnership are summarized below:
| Entity | Role in Partnership | Equity Holding |
|---|---|---|
| GMR Energy Limited (GEL) | Project Partner | 71% |
| Grasim Industries Limited | Project Partner | 29% |
Stock Price Movement
GMR Power and Urban Infra Ltd settled at ₹98.81 on Thursday, ticking up 1.00% after trading closed for the day. The shares experienced volatility throughout the session, moving between an intraday low of ₹97.51 and a high of ₹100.15.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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