Godawari Power & Ispat Limited has confirmed that the proceeds from its preferential issue of fully convertible warrants have been utilized as planned. As of the quarter ended March 31, 2026, there has been no deviation or variation from the objects stated in the shareholder-approved notices. The company raised ₹150.22 crore by the end of the quarter, with ₹150.17 crore already deployed toward the BESS Project.
Utilization of Proceeds
Godawari Power & Ispat has maintained full transparency regarding the allocation of funds raised through its preferential issue. For the quarter ending March 31, 2026, the company reported zero deviation in the use of funds against the original objects approved by shareholders in their October 2025 meeting. The management has verified that all expenditures align with the strategic objectives disclosed to investors.
Financial Highlights and Project Deployment
The company successfully raised a total of ₹150.22 crore. The primary focus of these funds has been the BESS Project (Battery Energy Storage System), which has seen an actual utilization of ₹150.17 crore. The remaining unutilized balance stands at a minimal ₹0.05 crore as of the close of the fiscal quarter.
Capital Raising Summary
The capital infusion was executed in tranches to support ongoing growth. Following an initial raise of ₹125 crore in the quarter ended December 31, 2025, the company added ₹25.22 crore on January 7, 2026. Other planned allocations, including ₹200 crore for general project funding and ₹125 crore for general corporate purposes, remain intact as per the company’s long-term capital deployment strategy.
Source: BSE
