Godawari Power And Ispat Ltd.

Godawari Power and Ispat’s subsidiary - Hira Ferro Alloys, has sold its entire 13% stake in Maruti Clean Coal and Power (MCCPL) comprising of 17.55 lakhs equity shares of Rs 10 each for a consideration of Rs 39.00 crore.

MCCPL is at present engaged in the process of setting up Coal Washery business and 300 MW Independent Power Plant (IPP) in the state of Chhattisgarh. The company is yet to start its commercial operation.

Godawari Power and 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. GPIL is a flagship company of Raipur-based Hira Group of Industries, which is an integrated steel manufacturer and is having dominant presence in the long product segment of the steel industry; mainly into mild steel wire.