Graphite India Limited has informed the Exchange about Acquisition
GRAPHITE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Graphite India Limited (GIL) has subscribed to the rights issue of its associate company, Godi India Private Limited (GIPL), for Rs. 18.65 crore in cash. This subscription raised GIL's stake in GIPL from 33.77% to 45.76% of the paid-up share capital. GIPL is a development-stage, pre-revenue R&D company based in Telangana, working on supercapacitors and advanced battery materials. In FY24, GIPL reported turnover of Rs. 153.67 lakhs with a net loss of Rs. 2,230.85 lakhs. The transaction was carried out on an arm's length basis with no promoter or group company interest involved.
GIL is increasing its exposure to a loss-making, pre-commercial associate in the new-energy materials space, which signals a long-term strategic bet but adds no near-term earnings. The relatively small investment size (~Rs. 18.65 crore) means limited immediate impact on GIL's financials or stock price.