incorporation of a subsidiary in the name of GMR Karnataka Renewable Energy-I Limited by GMR Energy Limited, wholly owned subsidiary of the Company
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GMR Power and Urban Infra Limited announced that its wholly owned subsidiary, GMR Energy Limited, has incorporated a new step-down subsidiary called GMR Karnataka Renewable Energy-I Limited (GKREL) on February 28, 2026. GKREL has a paid-up capital of Rs. 5 lakh (50,000 equity shares of Rs. 10 each), with GMR Energy Limited holding 100% stake. The new entity has been set up to develop renewable energy power plants in the state of Karnataka and falls under the renewable energy (generation and transmission) sector. GKREL is yet to commence business operations and the incorporation is not a related party transaction. No government or regulatory approvals are required for this incorporation.
This is a minor corporate restructuring move with negligible immediate financial impact given the small initial capital of Rs. 5 lakh. However, it signals the company's continued focus on expanding its renewable energy footprint in Karnataka, which could support long-term growth in the green energy segment.