Godawari Power & Ispat has issued a corrigendum to its board meeting outcome related to the preferential issue of convertible warrants. The correction involves replacing Mr. Sanjay Gupta with Mrs. Meena Gupta as the proposed allottee in Annexure A, leading to changes in pre and post shareholding details. The total number of warrants to be issued remains unchanged at 2,04,08,220, amounting to ₹500,00,13,900.
Correction to Allottee Information
Godawari Power & Ispat has identified an error in the previously released outcome of the board meeting regarding the fund raising via preferential issue of convertible warrants. The name of Mr. Sanjay Gupta was incorrectly listed as the proposed allottee in Annexure A, specifically in sections Sl No. 4 (a) (5) and 4 (b).
Revised Allottee: Mrs. Meena Gupta
The correct proposed allottee is Mrs. Meena Gupta, wife of Mr. Sanjay Gupta. This change consequently affects the pre and post shareholding and total shareholding figures as outlined in the annexure.
Details of Warrant Issuance
The company is proceeding with the issuance of up to 2,04,08,220 convertible warrants, aiming to raise an aggregate amount of ₹500,00,13,900. Each warrant is convertible into one fully paid-up equity share, exercisable within 18 months from the date of allotment.
Key Investors in the Warrant Issue
The investors involved in the preferential issue include:
- Mrs. Sarita Devi Agrawal
- Mr. Dinesh Agrawal
- Mr. Kumar Agrawal
- Hanuman Prasad Agrawal (HUF)
- Mrs. Meena Gupta
- Shree Nakoda Pipe Impex Private Limited
- Meridien Realtech Private Limited
Shareholding Pattern Post Conversion
Assuming full conversion of all warrants, the shareholding pattern will be adjusted. The promoter and promoter group will hold 63.05% of the company, while the public will hold 36.95%.
Warrant Issue Details
The issue price per warrant is ₹245. The total number of investors participating in this issue is 7.
Warrant Conversion Terms
Each warrant is convertible into one fully paid-up equity share. If the warrant holder does not convert the warrants within the 18-month period, the unconverted warrants will lapse, and the amount paid will be forfeited.
Source: BSE
