BackGMR Holdings to consider amalgamation with GMR Enterprises
The move is part of corporate restructuring exercise
Premium
New Delhi: GMR Holdings, the parent firm of GMR Infrastructure, on Tuesday said its board will consider the proposal of amalgamation with GMR Enterprises on 29 May as part of its corporate restructuring exercise.
Both the companies are promoters in GMR Infrastructure. In a BSE filing, GMR Holdings said: “Meeting of the Board of Directors of the company will be held on May 29, 2015, to consider the proposal to amalgamate GMR Holdings Pvt Ltd with GMR Enterprises Pvt Ltd as a part of corporate restructuring exercise."
As of 18 April, GMR Holdings held 51.97% stake in GMR Infrastructure, while GMR Enterprises held 0.44% stake.
Shares of GMR Infrastructure closed flat at Rs14.48 per share at the BSE.
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