Godawari Power & Ispat Limited confirms no deviation or variation in the utilization of proceeds from the preferential issue of Fully Convertible Warrants. This declaration aligns with the objects outlined in the notice dated 18.09.2025 and subsequent corrigendum. The Audit Committee has reviewed the statement for Q3 2026 (Oct-Dec), ensuring compliance with regulatory norms.
Preferential Issue Proceeds
Godawari Power & Ispat Limited (GPIL) has affirmed that there have been no deviations in the use of funds raised through the preferential issue of Fully Convertible Warrants. The proceeds were utilized according to the objects stated in the explanatory statement related to the notice dated 18.09.2025, and the corrigendum to the notice of the Extra-Ordinary General Meeting held on 15.10.2025.
Audit Committee Review
The company’s Audit Committee has reviewed the statement of nil deviation or variation for the quarter ended 31.12.2025 (Q3 2026), ensuring that the utilization of funds is in compliance with applicable regulations.
Fund Utilization Details
During the quarter, the company received ₹125 Crores from the issuance of warrants on a preferential allotment basis. These funds were utilized for the intended objects as detailed in the offer documents. Additionally, ₹5.01 Crores was received from a warrant holder for exercising the conversion option. The ₹5.01 Crores remains unutilized as of the end of the quarter.
Source: BSE
