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 full disposal of its 37.85% stake in Ardent Steel Private Limited (ASPL). The final tranche (fourth) involved the transfer of 7,30,400 equity shares representing 9.22% of ASPL to the buyer for Rs 22.18 Crores on 21.05.2026. With this transfer, GPIL's holding in ASPL has reduced to 0.00%, marking a complete exit from the associate company. The total consideration for the entire stake sale was Rs 90.87 Crores. This exit was subject to statutory and contractual requirements and follows earlier announcements made from February to April 2026.
The complete exit from ASPL for Rs 90.87 Crores provides cash inflow to GPIL and removes an associate company from its portfolio, which could positively impact the balance sheet and allow the company to focus on its core operations.