Godawari Power And Ispat limited has informed the Exchange regarding 'Updates on Disposal of Stake in Ardent Steel Private Limited'.
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Godawari Power and Ispat Limited (GPIL) has completed the third tranche of transferring its stake in associate company Ardent Steel Private Limited (ASPL). On 20.04.2026, the company transferred 7,32,000 equity shares representing 9.24% stake for Rs 22.18 Crores to the buyer. Following this transfer, GPIL's holding in ASPL has reduced from 18.46% to 9.22%. This is part of the previously announced disposal of the entire 37.85% stake held in ASPL for a total consideration of Rs 90.87 Crores, subject to statutory and contractual requirements.
The partial stake sale reduces GPIL's exposure to the steel trading associate business and brings in Rs 22.18 Crores in this tranche, with the full transaction worth Rs 90.87 Crores pending completion.