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Godawari Power & Ispat acquires 78.96% stake in Alok Ferro Alloys

28 Jun 2022 Evaluate

Godawari Power & Ispat has acquired 37,79,220 equity shares of Alok Ferro Alloys (AFAL) at a fair value comprising of 78.96% of the paid-up capital of AFAL. The shares have been acquired at Fair Market Value i.e. Rs 336 per share. The objective of acquisition is to control majority stake in AFAL.

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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