Godawari Power and Ispat Limited (GPIL) has officially concluded the divestment of its entire 37.85% equity stake in its associate company, Ardent Steel Private Limited (ASPL). With the transfer of the final tranche of 730,400 equity shares valued at ₹22.18 crore, the company has successfully reduced its holding from 9.22% to 0.00%, marking the total exit from this investment.
Strategic Divestment Concluded
Godawari Power and Ispat Limited (GPIL) has finalized the multi-stage sale of its interest in Ardent Steel Private Limited (ASPL). The company had previously announced its intention to divest its entire 37.85% stake for a total consideration of ₹90.87 crore. This process was executed through a series of planned tranches beginning earlier this year.
Final Tranche Details
On May 21, 2026, GPIL completed the fourth and final phase of the transaction. By transferring 730,400 equity shares, representing 9.22% of the equity capital of ASPL, the company realized a consideration of ₹22.18 crore. This final transfer signifies the complete cessation of GPIL’s association with ASPL, bringing its stake in the entity to 0.00%.
Context of the Transaction
The total divestment process, which spanned several months with previous updates provided on February 6, March 6, March 24, and April 20, 2026, demonstrates the company’s commitment to its strategic restructuring objectives. By fully exiting this associate company, Godawari Power and Ispat Limited continues to streamline its portfolio and optimize its capital allocation.
Source: BSE
