Founded in: 1994
GVK Power Infrastructure Limited (GVKPIL) is a holding company of diversified infrastructure assets. The Company has interest in various Power Generation assets (viz., Gas, Hydel and Thermal), Roads, Airports, SEZ, Coal Mines, Oil and Gas, etc. It is engaged mainly into the business of providing operation and maintenance services, manpower consultancy services and incidental services to owners of power plants, airports and infrastructure companies. GVK Power Infrastructure Limited was incorporated on December 2, 1994 as Jegurupadu Operating Maintenance Company, a Private Company with Unlimited Liability. The Company was converted from a Company with Unlimited Liability to a Company with Limited Liability and the name was changed to Jegurupadu Operating Maintenance Company Private Limited on April 20, 2005. Subsequently, Company was converted from a Private Limited Company to a Public Limited Company on May 19, 2005 and the name was changed to Jegurupadu Operating Maintenance Company Limited. Thereafter, the name of the Company was changed to GVK Power Infrastructure Limited on July 13, 2005. The Company is the holding company of the power businesses of GVK and also provides operations and maintenance services to its power assets. In addition to this, Company has also acquired substantial ownership interest into power companies, airports, roads and companies providing infrastructure facilities.GVK is amongst Indias largest infrastructure developers with experience and expertise spanning areas including hospitality, manufacturing, power, roads, airports and urban infrastructure. GVK has promoted or has equity investments in TAJGVK Hotels and Resorts Limited, Novopan Industries Limited, GVK Biosciences Private Limited, GVK JaipurKishangarh Expressway Limited.GVK has invested over Rs. 5,000 crore in its various business and has on hand projects in the pipeline of over Rs. 12,000 crore. GVK is developing power projects that are based on coal, gas and hydel resources. The projects are being developed across several States in the country including Andhra Pradesh, Punjab and Uttarakhand. In October 2005, GVKPIL acquired GVKPPL and Transoceanic Projects Limiteds equity stake in GPL. Accordingly, 51% of the equity shares in GPL now held by GVKPIL continue to remain pledged with PFC. In January 2006, the consortium led by GVK Group and comprising Airports Company South Africa and Bidvest was awarded the mandate to modernize Indias busiest airport, the Chhatrapati Shivaji International Airport (CSIA) at Mumbai. The Company has initialed the draft Power Purchase Agreement with Punjab State Electricity Board (PSEB) in December 2006. GVK consolidates its Power, Airports And Road Projects Under GVK Power Infrastructure Limited in January 2007. During July of the year 2007, GVK signed MoU with Tamil Nadu Industrial Development Corporation (TIDCO) to set up multiproduct SEZ in Perambalur. As at August of the year 2007, Alakananda Hydro Power Company Ltd, a GVK group company has achieved financial closure for its 330 MW Shrinagar Hydro Electric Project, being set up in Uttarakhand. During February 2008, the Chhatrapati Shivaji International Airport (CSIA), Mumbai International Airport Pvt Ltd (MIAL) today signed an agreement with SITA, the worlds leading provider of IT applications to airports. The GVKBHP Billiton consortium has emerged as provisional winners of seven deepwater exploration blocks off the west coast of India during June of the year 2008. GVKPIL has initiated power projects that will cross over 2000 MW capacity once operational. While Jegurupadu Combined Cycle Power Plant is operational, several ambitious power projects are under development.In 2009, Company acquired land for the SEZ in Perambalur, Tamil Nadu. Development of a 540 MW coal based thermal power plant in the State of Punjab at Goindwal Sahib began its operations. Jegurupadu Phase I plant resumed operations. Jegurupadu Phase II started its commercial operations from April 14, 2009.During January, 2010 Company acquired 29% equity stake in Bangalore International Airport Limited (BIAL) through another wholly owned subsidiary. Construction of 330MW Shrinagar Hydro Electric Project, construction of 2 x 270MW Coal based power plant situated at Goindwal Sahib, in the State of Punjab was completed in 2016. Partial Commercial Operations for the 83.04 km DeoliKota Road Project, in the State of Rajasthan, commenced from August, 2015 and full commercial operations started from March 2016. Export Heavy Bonded cargo Terminal spread over 7500 sqm with additional 3,00,000 mt capacity per annum was operational in January 2017.The Company had disposed off its entire equity stake in two of its whole owned subsidiaries i.e. GVK Oil Gas Limited and Goriganga Hydro Power Private Limited. Further, GVK Energy Ventures Private Limited also ceased to be a stepdown subsidiary of Company. Accordingly, each of these companies were no longer the subsidiaries of Company from January 1, 2018. Navi Mumbai International Airport Private Limited (NMIAL) was identified as a Special Purpose Vehicle, which is a step down subsidiary of Company in 2018. The Company launched 8 Airlines, namely Air Asia Indonesia Denpasar, Air Canada Vancouver, KLM Amsterdam, Thai Lion Air Bangkok, Thai Smile Bangkok, Rwand Air Kigali, Air Deccan Jalgaon Nashik, TruJet which were operational during 2018. GVK Airports International PTE Ltd, Singapore Sutara Roads Infra Limited which were stepdown subsidiaries of the Company became the direct subsidiaries of the Company during 202021. The Company launched 4 Airlines, Air Tanzania Dar Es Salaam, Virgin Atlantic London Heathrow, Delta Airlines JFK, Star Air Belgaum, which became operational in 202021. During 202122, consequent to allotment of 32.50 Crore equity shares of Rs. 10 each to GVK Jaipur Expressway Private Limited, M/s Sutara Roads Infra Limited became a direct subsidiary of GVK Jaipur Expressway Private Limited with effect from 2nd March, 2022. The Board of Directors have approved a Scheme of Amalgamation of GVK Airport Services Private Limited, GVK Power (Khadur Sahib) Private Limited, GVK Shivpuri Dewas Expressway Private Limited, Sutara Roads Infra Limited with the Company and their respective shareholders and creditors on April 01, 2021. The application has been filed with National Company Law Tribunal, Hyderabad on 31st March, 2022, seeking for the dispensation of shareholders credits meeting and same has been allowed by order dated January 09, 2023 read with order dated February 28, 2023. Subsequently, a petition was filed on June 08, 2023 for approval of the proposed scheme of amalgamation. The petition was heard before NCLT and the listing order was passed on July 04, 2023 directing the Petitioners to issue notice to the statutory authorities and also file a paper publication. Pursuant to the directions, the Petitioner companies have complied with the necessary directions and have not received any comment from any of these authorities. The NCLT asked to furnish further documents and the next date of hearing is on June 21, 2024. In view of the in ordinate delay in approval the company propose to withdraw the application of merger.
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