GVK Power & Infrastructure Ltd. has announced that its Board of Directors has approved the issue and allotment of equity shares, not exceeding Rs25bn (with a Green Shoe option to retain up to Rs 5bn from the excess subscriptions received), pursuant to an offer to qualified institutional buyers under Chapter XIIIA of the Securities and Exchange Board of India (Disclosure and Investor Protection Guidelines) 2000.

The Board has also agreed to issue and allot such number of share warrants or other securities convertible in aggregate to 30,00,00,000 equity shares of Re.1 each, at or above the floor price as may be determined in accordance with the SEBI Guidelines on preferential issue of securities to Promoters and Promoter group (which term shall include individuals or companies or such other juristic persons as may be permitted under the applicable laws).

The resolutions are subject to the approval of the shareholders under Section 81 (1A) of the Companies Act, 1956 and other relevant approvals under applicable law.