GMR Power and Urban Infra Limited has acquired 100 per cent stake in GMR Green Energy Private Limited (GGEPL) from GMR Solar Energy Private Limited.
The company has acquired the entire 50,000 equity shares of GGEPL at face value of Rs 10 each for an aggregate cash consideration of Rs 0.5 million on June 21, 2022. The acquisition did not require any government or regulatory approval. Pursuant to the acquisition, GGEPL would become a wholly-owned subsidiary of GMR Power and Urban Infra Limited. Notably, GGEPL was incorporated in 2022 with the objective to pursue opportunities in the green energy business. It is yet to commence commercial operations.