Godawari Power and Ispat Limited (GPIL) has announced an Extra-Ordinary General Meeting (EGM) to be held on October 15, 2025, for e-voting and submission of the Notice of EGM. The meeting will be conducted through Video Conferencing (VC) or Other Audio-Visual Means (OAVM).
The key agenda of the EGM includes seeking approval for the issuance of warrants convertible into equity shares to Promoters and/or to the Members of Promoters' Group and other Identified Non-Promoters on a preferential basis.
The Board of Directors has approved the raising of capital by way of issuance of up to 2,04,08,220 warrants (“Warrants”) for cash at a price of ₹245 per warrant, each warrant convertible into one fully paid-up equity share of the company of face value of ₹1 each at a premium of ₹244 each, aggregating up to ₹500 Crore.
The remote e-voting period will commence on October 11, 2025, at 09:00 AM and will end on October 14, 2025, at 05:00 PM. Shareholders holding shares either in physical form or in dematerialized form as of the cut-off date, October 8, 2025, are eligible to cast their votes electronically during this period and also during the EGM.
The EGM is being convened in compliance with Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015. The company is providing remote e-voting facility to its shareholders through National Securities Depository Limited (NSDL) vide EVEN- 137283.
The notice of the EGM, along with detailed instructions for e-voting, will be available on the company's website and will also be sent electronically to those members whose email addresses are registered with the Company/RTA or the Depository Participant(s) as of September 13, 2025.
The funds raised through this preferential issue will be utilized for part financing the Project Cost of Cold Rolling Mill Project of the company, Investment in Godawari New Energy Private Ltd. a subsidiary of the Company for the purposes of development of Battery Energy Storage System project and general corporate purposes.
The proposed allottees include Mrs. Sarita Devi Agrawal (41,63,300 warrants), Mr. Dinesh Agrawal (12,24,500 warrants), Mr. Kumar Agrawal (22,04,200 warrants), Hanuman Prasad Agrawal (HUF) (22,04,200 warrants), Mrs. Meena Gupta (4,08,150 warrants), Shree Nakoda Pipe Impex Private Limited (20,40,770 warrants) and Meridien Realtech Private Limited (81,63,100 warrants).
The “Relevant Date” for the purpose of determination of floor price for the issue and allotment of Warrants is Monday the 15th September, 2025.
The company has appointed CARE Ratings Limited as the monitoring agency to monitor the use of the proceeds of the issue.
The Promoters and promoter group shall hold 63.05% and the other Non-promoter group allottees shall hold 1.54% of the post preferential issue share capital.
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