Godawari Power And Ispat Ltd increses stake in Hira Ferro Alloys Ltd to 52.79%

Pursuant to the decision of the Board of Directors of Godawari Power And Ispat Limited (GPIL) in its meeting held on 27.07.2021, the GPIL has subscribed to the Preferential Offer made by Hira Ferro Alloys Limited (HFAL) for the second tranche of 9,00,000 equity shares at a price of Rs. 195/-per share.

Subsequent to allotment of these 9,00,000 equity shares of HFAL, the GPIL's holding in HFAL has been increased from 50.72% to 52.79% in the enhanced capital of HFAL wef 22nd October, 2021.

HFAL was incorporated on 31.12.1984 and is engaged in the business of manufacturing Ferro Alloys for more than three decades. The turnover of the company in 2018-19, 2019-20 and 2020-21 has been Rs.266.66 Crores, Rs.301.77 Crores and Rs.314.46 Crores respectively. The Company has earned sales turnover of Rs.l16.53 Crores and EBlDTA of Rs.29.10 Crores in Q1FY22. There is no long-term debtin the Company and is having working capital facilities from banks. The Company is having its operations in Raipur, Chhattisgarh only.

Shares of Godawari Power And Ispat limited was last trading in BSE at Rs. 1363.50 as compared to the previous close of Rs. 1433.70. The total number of shares traded during the day was 33501 in over 3810 trades.

The stock hit an intraday high of Rs. 1464.90 and intraday low of 1362.05. The net turnover during the day was Rs. 46675041.00.

Source : Equity Bulls

Keywords

GodawariPowerAndIspat INE177H01013 GPIL StakeIncrease HiraFerroAlloys