Monitoring agency report for the quarter ended March 31, 2026
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GMR Power and Urban Infra Limited has submitted its Q4 FY26 monitoring agency report for a preferential issue comprising equity shares and convertible warrants. The total issue size is Rs. 1,200 crore, of which Rs. 900 crore (75%) has been received as of March 31, 2026. CARE Ratings Limited, acting as the monitoring agency, has confirmed full utilization of Rs. 900 crore received with zero unutilized balance. The funds were deployed as follows: Rs. 334.64 crore for repayment of the company's own outstanding borrowings, Rs. 442.17 crore for subsidiary borrowings repayment (including GMR Smart Electricity Distribution and GMR Generation Assets), Rs. 100 crore infused into subsidiaries, and Rs. 23.19 crore used for general corporate purposes (covering business support services, vendor payments, rent, staff salaries and other operational expenses). No deviations from stated objects were reported. The convertible warrants were issued at Rs. 120.88 per warrant, which is above the prevailing market price.
This is a routine compliance filing confirming proper utilization of preferential issue proceeds as disclosed. All funds received have been deployed according to the offer document without material deviations. The report shows funds are primarily flowing to related GMR group entities for debt repayment, with remaining Rs. 300 crore still pending receipt from the total issue size.