GMR’s new arm to trade on stock exchanges from Wednesday

New Delhi: GMR’s new arm will start trading on stock exchanges from Wednesday as necessary regulatory approvals have been received, according to a statement from the company.

GMR Power and Urban Infra Limited, an entity that was formed after the demerger of the non-airports business of GMR Infrastructure, has received national company law tribunal approval and will list on the Bombay Stock Exchange and National Stock Exchange.

The new arm will house power generation capacity of 4.8 gigawatt of which more than 50% comprise of commissioned projects. It will house the company’s roads business as well as a 1680 acre special investment region in Tamil Nadu as well its interest in coal mines in Indonesia.

The power business comprises primarily of thermal and hydro projects though the company also has a small portfolio of solar and wind projects.

GMR Infrastructure owns the Delhi and Hyderabad airports and is developing a new airport at Mopa in Goa which is likely to be operational in the next financial year.