Gallantt Ispat Limited has informed the Exchange regarding Board meeting held on Jun 19, 2025.
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Gallantt Ispat's board, meeting on June 19, 2025, approved two key decisions. First, the company will invest Rs. 72.50 Crores to acquire a 33% equity stake (72,50,000 shares at Rs. 100 each) in Gallantt Lifespace Devlopers Private Limited (GLDPL), a real estate associate company with a net worth of Rs. 153.48 Crores but nil turnover. The transaction is a related-party deal involving the promoter's son. Second, Gallantt Ispat has been declared the Preferred Bidder by the UP Government for two iron ore blocks — Block B Bharhari (31.71 Mn MT reserve, 93.97% mining rights) and Block C near Sobna-Chakriya (18.88 Mn MT reserve, 72.55% mining rights) — for its Gorakhpur Steel Unit. In-house mining is expected to significantly cut raw material costs and boost operating profits.
Positive for shareholders: captive iron ore mining should lower raw material costs and improve margins at the steel unit, while the GLDPL investment diversifies into real estate, though it carries related-party concerns given the promoter's son's involvement.