GMR Kamalanga Energy Limited (GKEL), a step-down subsidiary of GMR Power and Urban Infra Limited (GMRP&UI), has successfully refinanced its existing debt of ₹2,700 crore. This strategic move has led to a reduction in GKEL's average cost of borrowing from approximately 12.15% per annum to 9.50% per annum, with a potential further reduction to 9.25% per annum contingent on a credit rating upgrade. The refinancing enables the repayment of all existing lenders. The company anticipates estimated savings in interest costs ranging between ₹72-75 crore during the first full year of operations post-refinancing. Management highlighted this as a pivotal step towards financial efficiency and sustainable growth, expected to strengthen profitability and enhance shareholder value.