Godawari Power And Ispat limited has informed the Exchange regarding Notice of undefined to be held on October 15, 2025
GPIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Godawari Power and Ispat Limited has called an Extra-Ordinary General Meeting (EGM) on October 15, 2025, at 11:30 AM via video conferencing, to seek shareholder approval for issuing up to 2,04,08,220 convertible warrants at ₹245 each, aggregating to roughly ₹500 crore. Each warrant can be converted into 1 equity share (face value ₹1) at a premium of ₹244 within 18 months of allotment, with 25% upfront and 75% on conversion. Allottees include promoters like Dinesh Agrawal, Sarita Devi Agrawal, Kumar Agrawal, and Hanuman Prasad Agrawal HUF (~₹240 crore) along with identified non-promoters such as Meridien Realtech, Shree Nakoda Pipe Impex, and Meena Gupta. The funds will be used for a Cold Rolling Mill Project (₹200 crore), investment in the Battery Energy Storage System (BESS) project via subsidiary Godawari New Energy (₹175 crore), and general corporate purposes (₹125 crore). CARE Ratings has been appointed as monitoring agency. Promoter holding will marginally dilute from 63.51% to 63.05%, with no change in control.
This is a capital-raising move worth ~₹500 crore led mostly by promoters, signalling their confidence in the company's growth plans in cold rolling and battery energy storage. Existing public shareholders will see a slight dilution (public holding rises marginally from 36.49% to 36.95% in absolute terms), but promoter commitment to invest ₹240 crore is generally viewed positively. The stock may see short-term volatility around the EGM and warrant conversion timeline.