GMR Power touches roof on acquiring 100% stake in GMR Green Energy
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GMR Power is locked at its upper circuit limit of Rs. 20.15, up by 0.95 points or 4.95% from its previous closing of Rs. 19.20 on the BSE.
The scrip opened at Rs. 19.20 and has touched a high and low of Rs. 20.15 and Rs. 18.55 respectively. So far 96113 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 48.80 on 23-Mar-2022 and a 52 week low of Rs. 18.55 on 21-Jun-2022.
Last one week high and low of the scrip stood at Rs. 23.20 and Rs. 18.55 respectively. The current market cap of the company is Rs. 1216.24 crore.
The promoters holding in the company stood at 59.83%, while Institutions and Non-Institutions held 28.52% and 11.66% respectively.
GMR Power and Urban Infra has acquired 100% stake in GMR Green Energy (GGEPL) from GMR Solar Energy (GSEPL) a fellow subsidiary. The company has acquired entire 50,000 equity shares of GGEPL at face value of Rs 10 each for an aggregate cash consideration of Rs 5,00,000 on June 21, 2022.
GGEPL was incorporated during the year 2022 with the objective to pursue opportunities in the Green Energy business and is yet to commence commercial operations. Pursuant to the above acquisition, GGEPL would become a Wholly Owned Subsidiary of the Company.
GMR Power and Urban Infra, a subsidiary of GEPL holds expertise in the sectors of Energy, Urban Infrastructure and Transportation.
