GMR Power & Urban Infra Ltd announced that GMR Kalinga Solar Power Limited has transitioned from a wholly owned subsidiary to a step-down subsidiary following an equity allotment. The board of GMR Kalinga Solar Power Limited allotted shares to GMR Energy Limited and Grasim Industries Limited on July 08, 2026, altering the ownership structure. This change impacts the company's subsidiary status as the project moves forward with external equity participation.

The equity infusion was agreed upon in a ratio of 71:29 between GMR Energy Limited and Grasim Industries Limited. GMR Energy Limited retains the majority stake with 71%, while Grasim Industries Limited holds 29%. The allotment was executed upon receipt of the first tranche of the subscription amount. None of the promoters, promoter group, or group companies of GMR Power & Urban Infra Ltd have any interest in this transaction.

GMR Kalinga Solar Power Limited was incorporated as a wholly owned subsidiary of GMR Energy Limited. The entity was established to develop a ~ 10 MW captive solar power generating plant on a design, build, finance, and operate basis. The project is located in Kamalanga, Odisha.

As part of the project development, GMR Kalinga Solar Power Limited entered into a long-term agreement with Grasim Industries Limited for the supply of power. This agreement facilitated the equity infusion by Grasim Industries Limited into the project. The change in status from a wholly owned subsidiary to a step-down subsidiary is a direct result of this new shareholding pattern.

Ownership Structure

The intimation was submitted to BSE Limited and National Stock Exchange of India Ltd under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

GMR Power & Urban Infra Limited has changed its official website address to https://www.gmrpowerurbaninfra.com/ with immediate effect. The transition ensures that stakeholders can continue to access company information without interruption. Users visiting the previous address, https://www.gmrpui.com/ , will be automatically redirected to the new platform.

The intimation was made in compliance with Regulation 46 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that all necessary measures have been implemented to facilitate a smooth transfer of data to the new website.

Key Details

The notification, signed by Company Secretary & Compliance Officer Vimal Prakash, was addressed to BSE Limited and the National Stock Exchange of India Ltd. The company requested the exchanges to take the change of address on record.