GMR Power and Urban Infra Acquires Stake in GMR Kamalanga Energy Limited
GMR Power and Urban Infra Limited announced the acquisition of a 2.37% stake in GMR Kamalanga Energy Limited (GKEL) from IDFC First Bank Limited. The transaction, completed on March 30, 2026, involved a cash consideration of Rs. 60 crore.GMR Energy Limited, a wholly-owned subsidiary of GMR Power and Urban Infra Limited, acquired 5,09,80,769 equity shares, representing the 2.37% stake. This acquisition is intended to consolidate the company’s existing shareholding in GKEL, bringing the total close to 100%, and to enhance strategic control over the entity.
GKEL operates a 1050 MW coal-based power plant. The company’s turnover for the fiscal year 2024-25 was Rs. 3017 crore. GKEL was incorporated on December 28, 2007. Its turnover for the three preceding fiscal years was Rs. 3194 crore (2022-23), Rs. 2955 crore (2023-24), and Rs. 3017 crore (2024-25).
The transaction does not involve a related party and was conducted at arm's length. No governmental or regulatory approvals were required for the acquisition.
Table: Details of the Acquisition
| Particulars | Details |
|---|---|
| Target Entity | GMR Kamalanga Energy Limited (GKEL) |
| Stake Acquired | 2.37% |
| Number of Shares Acquired | 5,09,80,769 |
| Consideration | Rs. 60 crore |
| Completion Date | March 30, 2026 |
| Turnover for FY 2024-25 | Rs. 3017 crore |
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