Godawari Power And Ispat Ltd.

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.