Godawari Power And Ispat limited has informed the Exchange about regarding Disposal of Stake in Ardent Steel Private Limited.
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Godawari Power and Ispat Limited (GPIL) has transferred the second tranche of 2,00,000 equity shares (2.52% stake) of Ardent Steel Private Limited (ASPL) to buyers for Rs 6.60 Crores on 24.03.2026. This is part of GPIL's plan to dispose of its entire 37.85% holding in ASPL for a total consideration of Rs 90.87 Crores, as announced earlier on 06.02.2026 and 06.03.2026. With this second tranche, GPIL's stake in ASPL has reduced from 20.98% to 18.46%, and ASPL has ceased to be an Associate Company of GPIL effective 24.03.2026. The disposal is being executed in multiple tranches subject to statutory and contractual requirements.
The transaction brings GPIL approximately Rs 6.60 Crores in cash in this tranche and moves it closer to full exit from its ASPL investment. Shareholders may view this as a positive cash inflow, though ASPL ceasing to be an associate company means GPIL will no longer account for its share of ASPL's profits going forward.