Gmr Power And Urban Infra Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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GMR Power and Urban Infra Limited has filed a nil deviation statement confirming that funds raised through a Preferential Issue (Rs. 1,200 crore total issue size) have been utilized as per the stated objects. As of March 31, 2026, the company received Rs. 900 crore, with Rs. 300 crore balance pending from warrant conversions over 18 months. The funds were deployed across four areas: repayment of company's borrowings (Rs. 334.64 crore of Rs. 550 crore allocated), repayment of subsidiary borrowings (Rs. 442.17 crore of Rs. 450 crore), infusion into subsidiaries/JVs (Rs. 100 crore fully utilized), and general corporate purposes (Rs. 23.19 crore of Rs. 100 crore). No deviations were reported in any category.
This filing provides reassurance to shareholders that the preferential issue proceeds of Rs. 900 crore (received so far) are being deployed as committed, with debt reduction being the primary use. The nil deviation status and audit committee review indicate good governance compliance.