Godawari Power And Ispat limited has informed the Exchange regarding allotment of 1361000 securities pursuant to Preferential Issue at its meeting held on April 20, 2026
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Godawari Power and Ispat Limited has allotted 13,61,000 equity shares of Re. 1/- each to Meridien Realtech Private Limited (MRPL) upon conversion of warrants. MRPL exercised its option to convert by paying the balance 75% of the issue price (Rs. 183.75 per warrant), aggregating to Rs. 25.08 crore. The warrant issue price was Rs. 245/- per warrant with a premium of Rs. 244/- per share. MRPL held 81,63,100 warrants in total, with 11,00,000 already converted earlier. After this conversion, 57,02,100 warrants remain pending for MRPL. The company's paid-up capital increased from 67,13,64,910 to 67,27,25,910 shares. MRPL's shareholding increased from 0.16% to 0.37% of total issued capital.
This is a dilutive event as the share count increases by 13.61 lakh shares. MRPL's stake nearly doubled from 0.16% to 0.37%, reducing existing shareholders' percentage holdings. The conversion was at market price (Rs. 245), which is neutral for valuation.