GMR Holdings to consider amalgamation with GMR Enterprises

GMR Holdings, the parent firm of GMR Infrastructure, Tuesday said its Board will consider the proposal of amalgamation with GMR Enterprises on May 29 as part of its corporate restructuring exercise.

New Delhi: GMR Holdings, the parent firm of GMR Infrastructure, Tuesday said its Board will consider the proposal of amalgamation with GMR Enterprises on May 29 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 April 18, GMR Holdings held 51.97 percent stake in GMR Infrastructure, while GMR Enterprises held 0.44 percent stake.

Shares of GMR Infrastructure closed flat at Rs 14.48 per share at the BSE.

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