Godawari Power and Ispat Ltd increases stake in Godawari Green Energy Limited and Hira Ferro Alloys Limited

Pursuant to the decision of the Board of Directors of Godawari Power and Ispat Limited (GPIL) in its meeting held 011 14.09.2021, GPIL has acquired 55,87,920 equity shares (22.13%) of GGEL from external shareholders at a Fair Value of Rs.102/- per share and accordingly the GPIL's holding in GGEL has been increased to 99.95% of the total Equity of GGEL. The remaining 12,080 equity shares shall also be acquired in due course.

Similarly, pursuant to the decision of the Board of Directors of GPIL in its meeting held on 27.07.2021, GPIL has subscribed to the Preferential Offer made by HFAL initially for the first trench of9,00,000 equity shares at a price of Rs. 195/- per share.

Subsequent to allotment of these 9,00,000 equity shares of HFAL, GPIL's holding in HFAL has been increased from 48.45% to 50.72%. As a result of this HFAL has become Subsidiary Company of GPIL.

Shares of GODAWARI POWER AND ISPAT LTD. was last trading in BSE at Rs. 1280 as compared to the previous close of Rs. 1278.65. The total number of shares traded during the day was 9030 in over 978 trades.

The stock hit an intraday high of Rs. 1312.1 and intraday low of 1251. The net turnover during the day was Rs. 11562806.

Source : Equity Bulls

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