GMR Infrastructure today reported narrowing of its consolidated net loss to Rs 379.38 crore for the December quarter on the back of resolution of regulatory bottlenecks and better operating margins from power plants.

The company's consolidated net loss after tax, minority interest and shares of loss of associates in the corresponding quarter in the previous fiscal was Rs 638.33 crore, it said in a BSE filing.

Mumbai: IRB Infrastructure Developers Ltd and GMR Infrastructure Ltd have sought the capital markets regulator’s approval to launch India’s first infrastructure investment trust (InvIT).

In the application to the Securities and Exchange Board of India (Sebi), both IRB and GMR have identified assets they want to list under these trusts.

Kathmandu: A group of unidentified men on Tuesday hurled a petrol bomb at the Kathmandu-based office of Indian infrastructure major GMR Group, which is developing major hydropower projects in Nepal, amid the ongoing Madhesi stir.

Additional Inspector General of the Metropolitan Police Commissioner’s office Pratap Singh Thapa said window panes of the building were shattered but there was no casualty, Nepal news website MyRepublica reported.

New Delhi, Dec. 25 (PTI): Diversified group GMR Infrastructure today said agreements had been executed for the proposed restructuring of holdings in GMR Airports Ltd (GAL).

Under the pacts, GMR Infrastructure will be entitled to purchase the "equity securities" held by the private equity investors in GAL before June 5, 2017.

Two private equity firms and a strategic partner are in the race to buy the Jaypee Group's cement business at an enterprise valuation of close to Rs 19,500 crore.

The sale is expected to be concluded by next March, according to a source. ICICI Securities, which is managing the sale, has asked the three bidders to give their offers. The proceeds will be used by Jaiprakash Associates to retire a part of its Rs 61,285 crore debt held in 2014-15, down from Rs 72,599 crore in 2013-14 (see chart).

In the first such bond issue under the new Reserve Bank of India (RBI) guidelines notified on Monday, GMR Infrastructure will get Rs 2,000 crore ($300 million) from Kuwait Investment Authority (KIA). It is the largest bilateral investment between India and the West Asian country in recent times.

The two sides signed a definitive agreement on Tuesday under which the Kuwaiti authority would subscribe to a 60-year-long Foreign Currency Convertible Bond (FCCB) due 2075 to be issued by GMR Infrastructure, the flagship company of the GMR Group.

NEW DELHI: GMR Energy Ltd today said its subsidiary GMR Rajahmundry Energy Ltd (GREL) has commenced commercial operation of gas-based 768MW power plant in Rajahmundry, Andhra Pradesh.

Power generated from this plant would be supplied to Andhra Pradesh power distribution companies.

GMR group announced the revision of power tariff for GMR Kamalanga Energy, an SPV of GMR Energy, following an order passed by the Central Electricity Regulatory Commission (CERC) on November 16. GMR Kamalanga had submitted an application to CERC for determination of the tariff under the power purchase agreement (PPA).

Pending order of the CERC, GMR Kamalanga was being reimbursed at Rs 2.75 per unit of total tariff. Consequent to the CERC order, GMR Kamalanga will be entitled for a price of FY14, which shall be approximately Rs 3.97 per unit and Rs 3.4 per unit thereafter.

GMR Infrastructure Ltd’s operating performance improved in the quarter ended September as its ailing energy business was boosted by fuel supplies.

A dramatic increase in the plant load factor pushed up the operating margin of the segment from 4% a year ago to 21%.

Shares of GMR Infrastructure have surged nearly 9% to Rs 13 on the BSE after the company posted a sharp decline of 42% in the consolidated net loss for the September quarter quoting at Rs 399 crore on the back of better operating margins from power plants and robust traffic growth in airports.

The company had reported a net loss of Rs 610 crore in the same period last year, according to the filing in the BSE.

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