GMR Power & Urban Infra said that its board will meet on 13 March 2024 to consider raising of funds on private placement basis.
Meeting of the board of Directors of the company is scheduled to be held on Wednesday, March 13, 2024 to inter-alia, consider and approve the raising of funds of Rs 181 crore (approximately) by way of issuance of non-convertible debentures on private placement basis, GMR Power & Urban Infra said in regulatory filing.GMR Power and Urban Infra a subsidiary of GMR Enterprises (GEPL) holds expertise in the sectors of Energy, Urban Infrastructure and Transportation. Urbanization has given the country rapid growth and contributing towards this growth, GMR Group ventured into this business sector.
The companys consolidated net profit declined 87.64% to Rs 43.17 crore on 3.57% fall in revenue from operations to Rs 1,102.79 crore in Q3 FY24 over Q3 FY23.
The scrip added 2.18% to end at Rs 50.52 on Thursday, 7 March 2024.
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