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Godawari Power gets nod to invest Rs 70.20 crore in Hira Ferro Alloys

28 Jul 2021 Evaluate

Godawari Power & Ispat has received an approval for the investment up-to Rs 70.20 crore for acquisition of additional equity shares proposed to be offered by Hira Ferro Alloys (HFAL) on preferential basis to GPIL, subject to approval of shareholders of HFAL. HFAL is an Associate Company of GPIL, in which GPIL is already holding 48.45% of the equity shares.

Consequent upon aforesaid further investment, HFAL will become subsidiary of Company with 56.45% of enhanced share capital of HFAL. HFAL, engaged in the business of manufacturing of Ferro Alloys is setting up of a 70 MW Solar Power Plant in the Rajnandgaon, Chhattisgarh for its captive use with a project cost envisaged at Rs 230 crore. The Project will be financed partially through equity and partially through bank finance. The Board of Directors of the company at its meeting held on July 27, 2021 has approved the same.

Godawari Power & Ispat is engaged in the production of sponge iron, steel billets, ferro alloys, HB wires, oxygen, fly ash bricks and is also in the power business.

Godawari Power & Isp Share Price

261.85 -3.35 (-1.26%)
29-Jun-2026 16:59 View Price Chart
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