Shares of iron and steel products manufacturer Godawari Power and Ispat Ltd (GPIL) traded higher on Friday, March 20, 2026 after a key announcement in its latest exchange filing. The companyโs stock started the trading session in green at Rs 251 against the previous close of Rs 250.85 on the BSE. Amid a spurt in trading volume by more than 4.41 per cent, the scrip jumped to touch the intraday high of Rs 267.85, representing a gain of 6.78 per cent. Last seen, the stock was trading at Rs 263.50 with a gain of 5.04 per cent, and the market cap of the company stood at Rs 17,685.27 crore. On the NSE, the stock was trading at Rs 263.40, up by 5.07 per cent or Rs 12.70.
Increases state in subsidiary GENPL
In its filing, the company stated that its wholly owned subsidiary, Godawari New Energy Private Limited (GENPL), has converted 0.1 per cent non-cumulative, participating, optionally convertible redeemable preference shares (Series 1 and 2) into equity shares.
A total of 19.89 crore equity shares, with a face value of Rs 10 each, have been allotted.
Investment rises to 100 per cent without additional funds
Following the conversion, Godawari Power & Ispatโs investment in GENPL increased from 101.1 million shares to 300 million equity shares, taking its stake to 100 per cent.
Notably, this increase was achieved without any additional investment or infusion of funds.
Details of the transaction
The investment qualifies as a related party transaction since GENPL is a wholly owned subsidiary of the parent company.
The conversion of preference shares into equity was carried out at an armโs-length price. There is no separate promoter or group stake involved in the transaction.
The conversion was completed on March 18, 2026, with 19.89 crore equity shares issued at Rs 10 per share.
Godawari New Energy Private Limited was incorporated on June 25, 2025. The company is currently working on installing a 20 GWh battery energy storage system (BESS) plant in its first phase.
GENPL will operate in the energy sector, focusing on battery storage technology. Its registered office is located in Raipur, Chhattisgarh, while operations will be based in Maharashtra.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)