GMR Infra shares gain 3% after company files composite scheme application with NCLT

GMR Infrastructure share price gained 3 percent intraday on March 8 after the company said that it along with the group companies had filed the composite scheme of amalgamation and demerger among GMR Power Infra and GMR Power and Urban Infra with the National Company Law Tribunal (NCLT).

"In continuation to our letters dated August 27, 2020 and December 21, 2020, regarding the Composite Scheme of Amalgamation and Demerger amongst the Company, GMR Power Infra and GMR Power and Urban Infra, including vertical split of Non-Airport Business (Demerger), we wish to inform that the company, GPIL and GPUIL have on March 5, 2021, filed the said composite scheme with the National Company Law Tribunal ("NCLT"), Mumbai for taking the scheme forward," GMR Infra said in the release.

At 1450 hours, GMR Infrastructure was quoting at Rs 28.35, up Rs 0.70, or 2.53 percent.

The share touched its 52-week high of Rs 29.95 on March 4, 2021, and 52-week low of Rs 14.10 on March 13, 2020.