Godawari Power & Ispat Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026. The report, issued by CARE Ratings Limited, details the utilization of proceeds from a ₹500.00 crore preferential issue. The company has invested primarily in the Battery Energy Storage System (BESS) project, with minor amounts allocated towards project funding, and no funds utilized for general corporate purposes during the quarter.
Monitoring Agency Report on Preferential Issue Proceeds
Godawari Power & Ispat Limited has submitted the Monitoring Agency Report for the quarter ended June 30, 2026. This report, prepared by CARE Ratings Limited, provides an objective view of the utilization of funds raised through a preferential issue. The total funds raised amounted to ₹500.00 crore.
Fund Utilization Details
During the quarter ended June 30, 2026, the company’s utilization of the issue proceeds was primarily directed towards specific projects:
- Project Funding: An amount of ₹0.22 crore was utilized during the quarter, bringing the total utilization to ₹0.22 crore, with an unutilized amount of ₹0.008 crore. This was invested towards a rolling mill project in GPIL.
- Investment in BESS Projects: A significant amount of ₹24.83 crore was utilized during the quarter, contributing to a total utilized amount of ₹175.00 crore. The total unutilized amount stands at ₹0.00 crore for this objective. This includes investments towards land acquisition and machinery for the BESS Project.
- General Corporate Purposes: There was no utilization of funds for general corporate purposes during the quarter. The total allocated amount for GCP was ₹125.00 crore, with the entire amount remaining unutilized.
Overall Fund Deployment
As of June 30, 2026, the total amount utilized from the preferential issue proceeds is ₹175.23 crore, with a total unutilized amount of ₹0.008 crore. The company is proceeding with its investment plans as disclosed in the offer document, with the BESS project being a key focus area for fund deployment.
Implementation Status
The implementation of the objects is ongoing. The completion dates for Project Funding, Investment in BESS Projects, and General Corporate Purposes are set for April 30, 2028. No delays or deviations from the planned implementation have been reported by the Monitoring Agency.
Source: BSE
