Godawari Power Subsidiary Allots ₹50 Cr Preference Shares

Godawari Power and Ispat Ltd (GPIL) has received an intimation regarding the allotment of 5,00,00,000 0.1% Non-Cumulative Participating Optionally Convertible Redeemable Preference Shares of Rs. 10/- each at par, aggregating to Rs. 50.00 Crores. This allotment, designated as Preference Shares- Series 2, was made on a Right Basis to GPIL by its wholly-owned subsidiary, Godawari New Energy Private Limited (GNEPL), on November 12, 2026. The funds invested will be utilized by GNEPL for capital expenditure and working capital requirements for setting up a Battery Energy Storage System (BESS) Plant. GNEPL was incorporated on June 25, 2025, and has not yet commenced business, with its registered office in Raipur, Chhattisgarh, and operations planned for AURIC, Chhatrapati Sambhajinagar, Maharashtra. As of September 30, 2026, GNEPL had a net worth of Rs 598 Crores and zero turnover.