homemarket Newsstocks NewsGMR Power and Urban Infra begins trade on bourses, lists at Rs 46.50 on BSE
market | Mar 23, 2022 10:09 AM IST

GMR Power and Urban Infra begins trade on bourses, lists at Rs 46.50 on BSE

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The equity shares of GMR Power and Urban Infra Limited (GPUIL) began their journey on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Wednesday.The shares listed at Rs 46.50 on the BSE while on the NSE it listed at Rs 48. However, the shares fell as much as 4.95 percent to Rs 44.20 on the BSE.On the NSE, the shares fell 5.88 percent to Rs 45.60.

The equity shares of GMR Power and Urban Infra Limited (GPUIL) began their journey on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Wednesday.

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The shares listed at Rs 46.50 on the BSE while on the NSE it listed at Rs 48. However, the shares fell as much as 4.95 percent to Rs 44.20 on the BSE.
On the NSE, the shares fell 5.88 percent to Rs 45.60.
The non-airport businesses of GMR Group have been demerged into GPUIL, a new entity. GMRP&UI is the script ID for the stock. For the first 10 trading days, the scrip will trade in the Trade-to-Trade category/T Group of Securities, as it is a freshly listed firm, according to the BSE and NSE issued necessary circulars.
GPUIL acquired the non-airport business of the GMR Group from GIL and has "some of the best-in-class infrastructure assets in India, which include state-of-the-art power plants and renewable energy assets, highways, and special investment regions".
The National Company Law Tribunal (NCLT) in December last year approved GMR Infrastructure's reorganisation plan comprising the demerger of the non-airport business, the company said.
GMR Infrastructure announced the restructuring plan on August 27 of last year, with the goal of simplifying the corporate holding structure and attracting sector-specific international investors.
GPUIL has a total capacity of around 4.8 GW, of which approximately 2.8 GW is operational. The company operates two solar power facilities, one in Gujarat and the other in Andhra Pradesh's Srikakulam district, as well as two wind power plants, a 1.25 MW facility in Tamil Nadu and a 2.1 MW facility in Gujarat's Kutch district. According to the company, it is also establishing a 180 MW hydropower project, and 1,425 MW of hydroelectric power projects are in the works, including a 900 MW unit in Dailekh, Nepal.
 
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