GMR's non-airport units to list on BSE, NSE tomorrow; all you need to know

The equity shares of GMR Power and Urban Infra Limited (GPUIL) will start trading on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) from tomorrow, a press release said.

GPUIL is the new entity into which the non-airport businesses of GMR Group have been demerged. The scrip will trade under the script ID GMRP&UI. BSE and NSE have issued necessary circulars in this regard.

Being a newly listed entity, the scrip will trade in the Trade-to-Trade category/ T Group of Securities for the first 10 trading days. According to the press release, GPUIL acquired the non-airport business of the GMR Group from GIL and has "some of the best-in-class infrastructure assets in India, which include state-of-the-art power plants and renewable energy assets, highways, and special investment regions".

GPUIL has a total power generation capacity of around 4.8 GW, of which roughly 2.8 GW is commissioned. The company operates two solar power plants -- at Patan in Gujarat and at Rajam in Srikakulam district of Andhra Pradesh -- as well as two wind-based power plants -- a 1.25 MW facility at Tirupur in Tamil Nadu and a 2.1 MW facility at Kutch district in Gujarat.

The company is also developing a 180 MW hydro power project, while 1,425 MW of hydroelectric power projects are under development, including a 900 MW unit in Dailekh, Nepal, the statement said.

GPUIL’s Transportation division has four operating highway assets spanning over 350 kilometres the statement said -- the 35km long Chandigarh-Ambala highway, the 181km long Hyderabad-Vijayawada highway, the 103km long Adloor-Gundla-Pochanpally highway and the 30km long Chennai Outer Ring Road.