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Godawari Power & Ispat inks pact to acquire stake in Hira Ferro Alloys from Hira infraTek

22 Mar 2022 Evaluate

Godawari Power & Ispat (GPIL) has signed a Share Purchase Agreement with Hira infraTek (HITL) on March 21, 2022 to acquire 44,54,621 equity shares of Hira Ferro Alloys (HFAL) from HITL at a price of Rs 224 per share.

Subsequent to acquisition of these 44,54,621 equity shares of HFAL from HITL, the GPIL's holding in HFAL shall increase from 56.45% to 75.66% of the paid-up capital of HFAL. The transaction will be completed within 10 days.   

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.

Peers
Company Name CMP
JSW Steel 1255.00
Tata Steel 184.65
Steel Authority 181.60
Jindal Stainless 746.95
APL Apollo Tubes 2181.05
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