Godawari Power and Ispat Limited has completed the divestment of its 100% Shareholding and control of Godawari Green Energy Limited to Virescent Renewable Energy Trust through its investment manager Virescent Infrastructure Investment Manager Private Limited.
Net Consideration of Rs. 351.88 Crores received towards the sale consideration of 2,52,47,000 Equity Shares of GGEL after repayment of loan and other adjustments.
The sales turnover of Godawari Green Energy Limited (GGEL) for the year ended 31st March, 2021 was Rs. 114.28 Crores constituting 2.81% of the consolidated turnover of the Company. The net worth of GGEL for the year ended 31st March, 2021 was Rs. 260 Crores constituting 13.53% of the consolidated net worth of the Company. GGEL has earned revenue of Rs 79.43 Crores and Net Loss of Rs 11.08 Crores for the nine months ended 31st December, 2021.