The GVK is a diversified business house with interests in a range of
including power, roads, urban infrastructure, bio-science, hotels and
GVK has promoted or has equity investments in TAJGVK Hotels and
Novopan Indistries Limited, GVK Biosciences Private Limited, GVK
Expressway Private Limited.
In recent years the Promoters through our Promoter Group Companies
focused on the power and infrastructure sector. G.V. Krishna Reddy,
the Chairman &
Managing Director of GVKPIL, is a first generation entrepreneur who
business four decades ago.
The Company was incorporated in the National Capital Territory of
Delhi on December
2, 1994 as Jegurupadu Operating & Maintenance Company, a private
unlimited liability, under the Companies Act, 1956. The Company was
converted from a
company with unlimited liability to a company with limited liability
and consequently the
name was changed to Jegurupadu Operating & Maintenance Company
on April 20, 2005. Subsequently, our Company was converted from a
company to a public limited company on May 19, 2005 and the name was
Jegurupadu Operating & Maintenance Company Limited. Thereafter, the
name of the
Company was changed to GVK Power & Infrastructure Limited on July
The Company is the holding company of the power businesses of the GVK
operations and maintenance services to its power assets. It has an
equity stake in GVK
companies engaged in the generation of electricity in the State of
Andhra Pradesh, namely
GIL, the company's Subsidiary, and GPL, Associate Company. It also
the O&M Contractor for
the power plants of GIL and GPL.
GVKPIL was originally promoted by our Promoters and CMS Energy, USA.
CMS Energy, USA
contributed 60% of the equity capital through JOMC, Mauritius and the
contributed by the Promoters through Triumph International.. In
February 2005, GVK Reddy
and his family bought the entire stake of Triumph International and
GIL was originally promoted in 1992 by the GVK and CMS (USA). The
Fund (through Golden Palm Limited and Vintage Investments Limited)
subscribed to 29.75%
of the equity share capital of GIL in 1993. In September 1995,
pursuant to an equity
investment of 10%, as well as a loan to GIL, by IFC, the then
shareholders of GIL executed a
shareholders agreement to set out their inter-se rights and duties as
GPL was originally incorporated by Satyam Constructions Private
Limited (name subsequently
changed to Maytas Infra Private Limited) in 1996. Subsequently, IJM
(Malayasia) joined as strategic equity partner. In 2000 NCC Power
Corporation Limited, another
IPP based in Andhra Pradesh, merged with Gautami Power Private
Limited through a Scheme
of Amalgamation. As a result of the merger the shareholders of GPL
were Maytas Infra Private
Limited along with their affiliates, IJM Corporation Berhard
(Malayasia) through its subsidiary
and NCC Power Corporation Limited. In July 2003, the Promoters
through GVK Energy Holdings
Private Limited (originally GVK Power Private Limited) took over the
Company as a strategic
equity partner and assumed the responsibility of implementing the
power project and also
contributed to the equity of the project, and executed an agreement
in July 2003. Currently,
equity contribution to the extent of 38.38% to the paid up equity of
GPL has been made by
GVKPIL, which is proposed to be increased to 51% through the infusion
of part of the IPO
proceeds. The other equity share holdings of Maytas, IJM and NCC are
17.71%, 25.09% and
18.82%, respectively. See History and Certain Corporate Matters-
Gautami Power Limited-
Agreement among the shareholders of the GPL on page [*] of this Draft
Prospectus for further details.
The Company has tied up the entire financial assistance of Rs.10,150
70% of the project cost of Rs 14,500 million) from various lenders,
lead by Power Finance
Corporation Limited (PFC). As a part of the security mechanism
Maytas, IJM, NCC and
GVKPPL and their respective affiliates were required to pledge 51% of
shareholding on the current paid up capital of the GPL with PFC.
Accordingly, GVK Energy
Holdings Private Limited and Transoceanic Projects Limited, Mauritius
(affiliates of GVKPPL)
have pledged 51% of their holding in GPL with PFC. In October 2005
GVKPPL and Transoceanic Projects Limited’s equity stake in GPL.
Accordingly, 51% of the
equity shares in GPL now held by GVKPIL continue to remain pledged
-GVK to join hands for ultra mega projects
- GVK Power & Infrastructure Ltd has appointed Mr. Sanjay Narayen
(IAS) as an Additional Director.
-GVK Power signs MoU with Govt of Tamil Nadu to set up SEZ
-GVK Power & Infrastructure Ltd has informed that Mumbai
International Airport Pvt Ltd an associate Company of GVK Power &
Infrastructure Ltd, has signed EPC Agreement on November 01, 2007
-GVK Power & Infrastructure Ltd has informed that name of the
Company's wholly owned subsidiary i.e. GVK Energy Ltd has been
changed to GVK Oil & Gas Ltd.
-GVK Power & Infrastructure Ltd has appointed Mr. A Issac George,
Chief Financial Officer as Additional Director of the Company and
also subject to approval of the shareholders and the Central
Government, if any, as Director (Finance) for a period of 3 years
with effect from April 01, 2008.
- GVK Power & Infrastructure Ltd has purchased the full equity share
capital of GVK Energy Pvt Ltd and GVK Developmental Projects Pvt Ltd
on May 9. As a result, these two companies have become wholly owned
subsidiaries of the company.
- The Company has splits its face value from Rs10/- to Rs1/-.
- GVK Power & Infrastructure Ltd has appointed Mr. Krishna Ram Bhupal
as an Alternate Director to Mr. Somanadri Bhupal at the Board Meeting
of the Company held on April 29, 2009.
-GVK Power - Acquisition of Shares in Bangalore International Airport
- GVK Power and Infrastructure Ltd. has said that it has awarded Rs.
3,200 crore construction contract.
The project was for its 800 Mw of gas-based power project to a
consortium of South Korea's Hyundai Engineering and Larsen & Toubro
-GVK Power signs 2 MoUs with Govt. of Indonesia.
-GVK Power & Infra gets recognition at Asia Mining Congress in
-GVK Power & Infra gets environmental approval for Alpha coal and
Rail project in Australia.
-GVK Power and Infrastructure signs Operations & Management contract
with Indonesian airport.