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 & Urban Infra Limited (GPUIL) has announced a significant financial move that could potentially reshape its future operations and growth strategies. The company is set to hold a crucial Board of Directors meeting on August 22, 2025, where it will consider and potentially approve a proposal for raising funds up to ₹3000.00 Crore.

Fund Raising Details

The proposed fund-raising initiative is designed to be flexible, allowing the company to raise capital in one or more tranches. GPUIL is exploring various avenues for this fundraising, including:

1. Qualified Institutions Placement (QIP)
2. Foreign Currency Convertible Bonds (FCCBs)
3. Other securities as deemed appropriate

This strategic move indicates GPUIL's intent to strengthen its financial position, potentially for expansion, debt reduction, or other corporate purposes.

Regulatory Compliance and Approvals

As per the regulatory filing made by the company, this fund-raising proposal is subject to several key approvals:

1. Shareholder Approval: The company will need to secure the consent of its shareholders for this significant financial decision.
2. Regulatory Approvals: Various regulatory bodies will need to give their nod to the fund-raising plan.
3. Statutory Approvals: Any other statutory approvals as required by applicable laws will also need to be obtained.

Company's Official Statement

In its official communication to the stock exchanges, Vimal Prakash, Company Secretary & Compliance Officer of GMR Power & Urban Infra Limited, stated:

"Pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we wish to inform you that a Meeting of the Board of Directors of GMR Power and Urban Infra Limited ('the Company') is scheduled to be held on Friday, August 22, 2025 to inter-alia, consider and approve the proposal for raising of funds of up to ₹3000 Crore in one or more tranche(s) through issue of securities including Qualified Institutions Placement and/or Foreign Currency Convertible Bonds and/or any other securities as an enabling resolution as per the requirements of applicable laws which shall be subject to approval of shareholders and other regulatory and/or statutory approvals, as applicable."

Implications and Outlook

This move by GMR Power & Urban Infra Limited signifies a proactive approach towards capital management and future growth. The substantial amount of ₹3000.00 Crore indicates the company's ambition and the scale of its future plans. Investors and market watchers will be keenly observing the outcome of the August 22 board meeting and the subsequent steps taken by the company in its fund-raising journey.

As the energy and urban infrastructure sectors continue to evolve, GPUIL's strategic financial decisions could play a crucial role in shaping its market position and operational capabilities in the coming years.