gmr infrastructure limited - · pdf filecontact person: lakshmi lakshmanan ... varalakshmi...
Post on 18-Mar-2018
268 Views
Preview:
TRANSCRIPT
FOR PRIVATE CIRCULATION TO THE ELIGIBLE EQUITY SHAREHOLDERS OF OUR COMPANY ONLYISSUE OF 93,45,53,010 EQUITY SHARES OF FACE VALUE OF ` 1.00 EACH OF OUR COMPANY (THE EQUITY SHARES) FOR CASH AT A PRICE OF ` 15.00 PER EQUITY SHARE (INCLUDING A PREMIUM OF ` 14.00 PER EQUITY SHARE) NOT EXCEEDING ` 1,401.83 CRORE ON A RIGHTS BASIS TO THE ELIGIBLE EQUITY SHAREHOLDERS OF OUR COMPANY IN THE RATIO OF 3 EQUITY SHARES FOR EVERY 14 FULLY PAID-UP EQUITY SHARES HELD BY THE ELIGIBLE EQUITY SHAREHOLDERS ON THE RECORD DATE, THAT IS ON MARCH 12, 2015 (THE ISSUE). FOR FURTHER DETAILS, SEE THE SECTION TERMS OF THE ISSUE ON PAGE 542.
GENERAL RISKSInvestment in equity and equity related securities involve a degree of risk and investors should not invest any funds in the Issue unless they can afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in the Issue. For taking an investment decision, investors must rely on their own examination of our Company and the Issue including the risks involved. The securities being offered in the Issue have not been recommended or approved by the Securities and Exchange Board of India (SEBI) nor does SEBI guarantee the accuracy or adequacy of this Letter of Offer. Investors are advised to refer to the section Risk Factors on page 21 before making an investment in this Issue.
ISSUERS ABSOLUTE RESPONSIBILITYOur Company, having made all reasonable inquiries, accepts responsibility for and confirms that this Letter of Offer contains all information with regard to our Company and the Issue, which is material in the context of the Issue, that the information contained in this Letter of Offer is true and correct in all material aspects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which makes this Letter of Offer as a whole or any such information or the expression of any such opinions or intentions misleading in any material respect.
LISTINGThe existing Equity Shares of our Company are listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE, and together with BSE, the Stock Exchanges). Our Company has received in-principle approvals from BSE and NSE for listing the Equity Shares to be allotted pursuant to the Issue vide their letters dated October 7, 2014 and October 8, 2014, respectively. For the purposes of the Issue, the Designated Stock Exchange is NSE.
LEAD MANAGERS TO THE ISSUE REGISTRAR TO THE ISSUE
JM Financial Institutional Securities Limited*7th Floor, CnergyAppasaheb Marathe MargPrabhadevi, Mumbai 400 025Tel: (91 22) 6630 3030Fax: (91 22) 6630 3330E-mail: gmr.rights.2014@jmfl.comInvestor Grievance E-mail: grievance.ibd@jmfl.comWebsite: www.jmfl.comContact Person: Lakshmi LakshmananSEBI Registration Number: INM000010361CIN: U65192MH1995PLC092522
Axis Capital Limited1st floor, Axis HouseC-2 Wadia International CentreP.B. Marg, WorliMumbai 400 025Tel: (91 22) 4325 2183Fax: (91 22) 4325 3000E-mail: gmrinfra.rights@axiscap.inInvestor Grievance E-mail: complaints@axiscap.inWebsite: www.axiscapital.co.inContact Person: Prashant KolheSEBI Registration Number: INM000012029CIN: U51900MH2005PLC157853
ICICI Securities LimitedICICI Centre, H.T. Parekh Marg, Churchgate, Mumbai 400 020Tel: (91 22) 2288 2460Fax: (91 22) 2282 6580E-mail: gmrinfra.rights@icicisecurities.comInvestor Grievance E-mail: customercare@icicisecurities.comWebsite: www.icicisecurities.comContact Person: Ayush Jain / Manvendra TiwariSEBI Registration Number: INM000011179CIN: U67120MH1995PLC086241
SBI Capital Markets Limited202, Maker Tower 'E'Cuffe Parade, Mumbai 400 005Tel: (91 22) 2217 8300Fax: (91 22) 2218 8332E-mail: gmr.rights@sbicaps.comInvestor Grievance E-mail: investor.relations@sbicaps.comWebsite: www.sbicaps.comContact Person: Kavita Tanwani / Nikhil BhiwapurkarSEBI Registration Number:INM000003531CIN: U99999MH1986PLC040298
Karvy Computershare Private LimitedPlot No. 17-24, Vittal Rao Nagar, Madhapur, Hyderabad 500 081Tel: (91 40) 4465 5000Fax: (91 40) 2343 1551E-mail: murali.m@karvy.comInvestor Grievance Email: einward.ris@karvy.comWebsite: https://karisma.karvy.comContact Person: M.Murali KrishnaSEBI Registration No.: INR000000221CIN: U74140TG2003PTC041636
ISSUE PROGRAMMEISSUE OPENS ON LAST DATE FOR REQUEST FOR SPLIT
APPLICATION FORMSISSUE CLOSES ON
MARCH 24, 2015 MARCH 31, 2015 APRIL 8, 2015
*Formerly JM Financial Institutional Securities Private Limited
GMR INFRASTRUCTURE LIMITEDGMR Infrastructure Limited (our Company or the Issuer or GIL) was incorporated as a public limited company under the name of
Varalakshmi Vasavi Power Projects Limited on May 10, 1996 under the Companies Act, 1956. On May 31, 1999, the name of our Company was changed to GMR Vasavi Infrastructure Finance Limited. The name of our Company was further changed to GMR Infrastructure Limited
on July 24, 2000. For details of change in our name, see the section General Information on page 100.Registered Office: Skip House, 25 / 1 Museum Road, Bengaluru 560 025
Corporate Office: IBC Knowledge Park, Phase 2, D Block, 11th Floor, 4 / 1, Bannerghatta Road, Bengaluru 560 029Contact Person: C. P. Sounderarajan, Company Secretary and Compliance Officer; Tel: (91 80) 4053 4281; Fax: (91 80) 2227 9353
E-mail: gmrr@gmrgroup.in / csd-group-gmrr@gmrgroup.in; Website: www.gmrgroup.inCorporate Identity Number: L45203KA1996PLC034805
PROMOTERS OF OUR COMPANY: G. M. RAO AND GMR HOLDINGS PRIVATE LIMITED
Letter of OfferDated March 5, 2015
For Eligible Equity Shareholders only
(i)
TABLE OF CONTENTS
SECTION I GENERAL .................................................................................................................................... 1
DEFINITIONS AND ABBREVIATIONS ......................................................................................................... 1
NOTICE TO INVESTORS .............................................................................................................................. 17
PRESENTATION OF FINANCIAL AND OTHER INFORMATION ............................................................ 18
FORWARD-LOOKING STATEMENTS ........................................................................................................ 19
SECTION II: RISK FACTORS ........................................................................................................................ 21
SECTION III: INTRODUCTION .................................................................................................................... 84
THE ISSUE ...................................................................................................................................................... 84
SUMMARY FINANCIAL INFORMATION .................................................................................................. 85
GENERAL INFORMATION ......................................................................................................................... 100
CAPITAL STRUCTURE ............................................................................................................................... 105
OBJECTS OF THE ISSUE ............................................................................................................................. 112
TAX BENEFIT STATEMENT ...................................................................................................................... 126
SECTION IV: ABOUT OUR COMPANY ..................................................................................................... 130
OUR BUSINESS ............................................................................................................................................ 130
OUR MANAGEMENT .................................................................................................................................. 153
SECTION V: FINANCIAL INFORMATION ............................................................................................... 162
FINANCIAL STATEMENTS ........................................................................................................................ 162
WORKING RESULTS .................................................................................................................................. 484
MATERIAL DEVELOPMENTS ................................................................................................................... 485
ACCOUNTING RATIOS AND CAPITALISATION STATEMENT ........................................................... 488
PROFORMA FINANCIAL RESULTS .......................................................................................................... 491
STOCK MARKET DATA FOR SECURITIES OF OUR COMPANY .......................................................... 508
SECTION VI: LEGAL AND OTHER INFORMATION ............................................................................. 511
OUTSTANDING LITIGATION AND DEFAULTS ..................................................................................... 511
GOVERNMENT AND OTHER APPROVALS............................................................................................. 531
OTHER REGULATORY AND STATUTORY DISCLOSURES.................................................................. 534
SECTION VII: ISSUE INFORMATION ....................................................................................................... 542
TERMS OF THE ISSUE .....................................................................
top related