Godawari Power & Ispat Limited (GPIL) announced the first tranche completion of its planned divestment in Ardent Steel Private Limited. The company transferred 13,36,700 equity shares, representing 16.87% of the associate company, for Rs 40.50 Crores on March 6, 2026. Following this transaction, GPIL’s total residual stake in Ardent Steel has been reduced from 37.85% to 20.98%, finalizing part of the originally announced disposal plan.
First Tranche Completion of Stake Disposal
Godawari Power & Ispat Limited (GPIL) provided an update regarding the disposal of its entire existing stake in Ardent Steel Private Limited, an Associate Company. This follows an initial announcement made on February 6, 2026, concerning the complete divestment for a total consideration of Rs 90.87 Crores.
Transaction Details for March 6, 2026
The company confirmed the completion of the first tranche transfer of equity shares on March 6, 2026. Specifically, GPIL transferred 13,36,700 equity shares of Ardent Steel Private Limited. This block of shares represents 16.87% of the associate company’s total equity.
The consideration received for this first tranche amounted to Rs 40.50 Crores.
Resulting Shareholding Position
As a direct consequence of this transaction, GPIL’s aggregate shareholding in Ardent Steel Private Limited has decreased significantly. The stake has been reduced from the initial 37.85% down to the remaining 20.98%.
The company confirmed that this reduction occurred after fulfilling all prerequisite statutory and contractual requirements associated with the transfer.
Source: BSE
