Godawari Power and Ispat Limited (GPIL) announced plans to issue warrants worth ₹500 Crore during its board meeting held on September 18, 2025. The board approved the issuance of up to 2,04,08,220 warrants, each convertible into one fully paid-up equity share.
The warrants will be issued at a price of ₹245 per warrant, with each warrant convertible into one equity share of face value ₹1 at a premium of ₹244. The aggregate value of the issuance is up to ₹5,00,00,13,900. The preferential issue will be on a private placement basis to promoters, members of the promoter group, and identified non-promoters.
The decision was made in accordance with Section 42 and 62(1)(c) of the Companies Act, 2013, along with relevant rules and regulations, including the SEBI ICDR Regulations and SEBI LODR Regulations. The issuance is subject to the approval of the shareholders at the upcoming Extraordinary General Meeting (EGM) and other regulatory authorities.
The company has scheduled an Extraordinary General Meeting (EGM) on Wednesday, October 15, 2025, at 11:30 A.M. via video conferencing to seek shareholder approval for the preferential issue. The notice of the EGM will be submitted to the stock exchanges in compliance with SEBI regulations.
Details of the Preferential Issue:
| Particulars | Details |
|---|---|
| Type of Securities | Warrants Fully Convertible Equity Shares |
| Type of Issuance | Preferential Issue under Chapter V of SEBI Regulations, 2018 |
| Total Number of Warrants | 2,04,08,220 |
| Total Amount | ₹5,00,00,13,900 |
| Issue Price | ₹245 per warrant |
| Number of Investors | 7 |
Name of the investors:
Shareholding Details of Proposed Allottees:
| Name of the Proposed Allottees | Category | Pre-Preferential Issue shareholding of the Proposed Allottees | Percentage (%) to the total Equity Share Capital (Pre-Preferential Issue) | Post-Allotment shareholding of Warrants pursuant to the Preferential Issue (Assuming Full Conversion) | Percentage (%) to the total Equity Share Capital (Post-Preferential Issue) |
|---|---|---|---|---|---|
| Mrs. Sarita Agrawal | Promoter Group | 70,31,130 | 1.05 | 11194430 | 1.62 |
| Mr. Dinesh Agrawal | Promoter | 24278425 | 3.63 | 25502925 | 3.70 |
| Mr. Kumar Agrawal | Promoter Group | 2,21,91,055 | 3.31 | 24395255 | 3.54 |
| Hanuman Prasad Agrawal (HUF) | Promoter Group | 9,48,105 | 0.14 | 3152305 | 0.46 |
| Mr. Sanjay Gupta | Identified non-promoter | 3,58,000 | 0.05 | 766150 | 0.11 |
| Shree Nakoda Pipes Impex Private Limited | Identified non-promoter | 0 | 0.00 | 2040770 | 0.30 |
| Meridian Realtech Private Limited | Identified non-promoter | 0 | 0.00 | 8163100 | 1.18 |
| Total | 54806715 | 8.18 | 75214935 | 10.91 |
Assuming conversion of all the warrants, the Shareholding Pattern of the Company shall be as under:
| Category of Shareholder | Pre-Preferential Issue shareholding | Percentage (%) | Post-Allotment shareholding | Percentage (%) |
|---|---|---|---|---|
| Promoter and Promoter Group | 425255795 | 63.51 | 435051995 | 63.05 |
| Public | 244360933 | 36.49 | 254972953 | 36.95 |
| Total | 669616728 | 100.00 | 690024948 | 100.00 |
Each warrant will be convertible into one fully paid-up equity share of the Company of face value of ₹1 each, which may be exercised in one or more tranches during a period of 18 months commencing from the date of allotment of Warrants. If the Warrant holder does not convert the Warrants within 18 months from the date of allotment, the unconverted Warrants shall lapse, and the amount paid by the Warrant holder on such Warrants shall stand forfeited.
The meeting commenced at 10:45 AM and concluded at 11:45 AM.
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