Acquisitions20 Mar 2026, 11:55 am
Godawari Power and Ispat Acquires 100% Stake in Godawari New Energy, No Further Investment Required
AI Summary
Godawari Power and Ispat Ltd has acquired 100% stake in its wholly owned subsidiary, Godawari New Energy Private Ltd, through the conversion of preference shares into equity shares. The conversion resulted in the allotment of 19,89,00,000 equity shares of Rs 10/- each at par, without any further infusion of funds into GNEPL. GNEPL is in the process of setting up a 20 Gwh Battery Energy Storage System Plant in First Phase and has its registered office at Raipur, Chhattisgarh.
Key Highlights
- Godawari Power and Ispat Ltd has acquired 100% stake in Godawari New Energy Private Ltd
- The acquisition was done through the conversion of preference shares into equity shares
- No further infusion of funds into GNEPL was required
- GNEPL is setting up a 20 Gwh Battery Energy Storage System Plant in First Phase
- GNEPL is a wholly owned subsidiary of GPIL