GMR Power & Urban Infra Limited has issued a corrigendum to its postal ballot notice dated December 17, 2025, providing additional details regarding the utilization of proceeds from its ₹1,200.00 crore fund-raising proposal through preferential issue of equity shares and convertible warrants. The corrigendum was issued on January 8, 2026, following requirements from stock exchanges for more detailed fund utilization information.

Postal Ballot Process and Timeline

The company has initiated the postal ballot process under Regulation 29 and 30 of SEBI Listing Regulations for shareholder approval of the preferential issue. The postal ballot notice is being sent electronically to all members whose email addresses are registered as of December 11, 2025 (cut-off date).

Fund Raising Structure Details

The approved structure involves a two-tier fund raising mechanism targeting different investor categories. The proposal includes issuance of equity shares to non-promoter investors and convertible warrants to promoter group entities at ₹120.88 per share, including a premium of ₹115.88.

Revised Fund Utilization Plan

The corrigendum provides detailed breakdown of fund utilization across four key areas, with specific amounts allocated for debt repayment and subsidiary investments. The revised plan includes repayment of company borrowings, subsidiary debt clearance, fund infusion into subsidiaries, and general corporate purposes.

Equity Shares and Warrant Allocation

The structure involves issuance of up to 6,61,81,335 equity shares worth ₹800.00 crore to non-promoter category investors and up to 3,30,90,668 convertible warrants aggregating ₹400.00 crore to promoter group entities.

Proposed Allottees and Additional Details

Synergy Industrial and Power Metals Limited and Credit Solutions India Trust have been designated as equity share allottees, while Hyderabad Jabilli Properties Private Limited will receive the convertible warrants. The corrigendum clarifies that Credit Solutions India Trust is a SEBI Registered Category-II Alternative Investment Fund and qualifies as a Qualified Institutional Buyer.

Regulatory Compliance and Voting Process

The preferential issue is structured under Chapter V of SEBI (ICDR) Regulations 2018, with the convertible warrants carrying a maximum tenure of 18 months from allotment date. Members who have already voted can modify their votes by emailing the scrutinizer before January 16, 2026. CARE Ratings Limited has been appointed as the monitoring agency for fund utilization.

GMR Power and Urban Infra Limited has announced the incorporation of a new wholly owned subsidiary focused on solar power development in Odisha. The company disclosed this development to stock exchanges under regulatory compliance requirements.

New Solar Power Subsidiary Formation

GMR Energy Limited, a wholly owned subsidiary of GMR Power and Urban Infra Limited, has incorporated GMR Utkal Solar Power Limited (GUSPL) as its wholly owned subsidiary. The new entity was incorporated on December 29, with the Certificate of Incorporation received on December 30.

Investment Structure and Shareholding

The subsidiary formation involved subscription to 10,000 shares of ₹10.00 each through the Memorandum of Association. GMR Energy Limited currently holds 100% stake in GUSPL, making it an indirect wholly owned subsidiary of GMR Power and Urban Infra Limited.

Project Objectives and Business Focus

GMR Utkal Solar Power Limited has been established specifically for the development of solar power projects in Kamalanga, Odisha. The subsidiary operates in the renewable energy sector, focusing on generation and transmission of solar power infrastructure.

The company clarified that the incorporation does not fall within the purview of related party transactions. The promoter, promoter group, and group companies do not have any direct interest in the entity except for indirect shareholding through the existing corporate structure.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, and SEBI Circular. The company confirmed that no specific governmental or regulatory approvals were required for this incorporation, as it was completed through the standard subsidiary formation process.