GMR Power & Urban Infra Limited has successfully completed a significant fundraising exercise through preferential allotment of equity shares and convertible warrants. The company announced on January 28, 2026, that its Management Committee approved the allotment following receipt of shareholder approval through postal ballot and in-principle approval from stock exchanges on January 16, 2026.

Allotment Details

The company completed the allotment of securities at an issue price of Rs 120.88 per share, including a premium of Rs 115.88 over the face value of Rs 5.00. The allotment comprised two components:

The convertible warrants can be converted into equivalent equity shares within 18 months from the allotment date upon payment of the remaining 75% consideration amount.

Investor Composition

The allotment was made to three strategic investors across different categories:

Capital Structure Impact

The preferential allotment has resulted in a significant expansion of the company's equity base. The paid-up equity share capital increased from Rs 3,57,41,80,970 comprising 71,48,36,194 fully paid-up equity shares to Rs 3,90,50,87,645 comprising 78,10,17,529 fully paid-up equity shares of Rs 5.00 each.

Upon full conversion of the outstanding warrants, the company's paid-up capital will further increase to Rs 4,07,05,40,985, comprising 81,41,08,197 equity shares of Rs 5.00 each. This represents a substantial increase in the company's equity base and provides additional financial resources for business operations.

Regulatory Disclosure and Shareholding Impact

Hyderabad Jabilli Properties Private Limited, a promoter group entity, has filed the required disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 on January 30, 2026. The disclosure provides detailed shareholding information:

The entity is associated with 24 Persons Acting in Concert (PAC), including key promoter family members such as Mr. Mallikarjuna Rao Grandhi, Mrs. Varalakshmi Grandhi, and various family trusts and group companies.

Regulatory Compliance

The allotment process followed all regulatory requirements under SEBI regulations. The newly allotted equity shares will rank pari-passu in all respects with existing equity shares of the company. GMR Power & Urban Infra Limited has indicated that it will apply to stock exchanges for listing and trading approval for the newly allotted shares in due course.

The Management Committee meeting that approved the allotment was conducted on January 28, 2026, from 10:30 AM to 11:00 AM, demonstrating the company's commitment to timely execution of the fundraising plan approved by the Board of Directors on December 17, 2025.

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.