Godawari Power And Ispat limited (GPIL) has received intimation from its wholly owned subsidiary Godawari New Energy Private Limited (GNEPL) regarding the allotment of 10,00,00,000 equity shares of Rs 10 each at par, aggregating to Rs 100 crore, on a rights basis. The allotment was completed on June 4, 2026.
Consequent to this allotment, GPIL's total investment in GNEPL has increased from 35,00,00,000 equity shares of Rs 10 each (Rs 350 crore) to 45,00,00,000 equity shares of Rs 10 each (Rs 450 crore). GPIL now holds 100% of the paid-up capital of the subsidiary.
The investment is in continuation of GPIL's earlier board decisions to fund the capex and working capital requirements of GNEPL for setting up a 20 Gwh Battery Energy Storage System plant in the first phase. GPIL had previously informed the exchanges about this investment plan on February 6, 2026 and May 19, 2026.
GNEPL was incorporated on June 25, 2025 and has not yet commenced business operations. As of March 31, 2026, the subsidiary reported a net worth of Rs 298.01 crore with nil turnover. The entity is in the process of setting up its BESS project in Maharashtra.
The acquisition is classified as a related party transaction since GNEPL is a wholly owned subsidiary. The consideration has been paid in cash.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.