Godawari power to issue preferential warrants for capital raise

Godawari Power and Ispat Limited will hold an Extra-Ordinary General Meeting (EGM) on October 15, 2025, to approve the preferential issue of up to 2,04,08,220 warrants. These warrants, priced at INR 245 each, are convertible into one equity share of INR 1 each at a premium of INR 244, totaling an aggregate value of INR 5,00,00,13,900. The issue is directed towards promoters, promoter group members, and other identified non-promoters.

The proceeds from the warrant conversion will be allocated to several key initiatives: INR 200 crore for the Cold Rolling Mill Project, INR 175 crore for investment in Battery Energy Storage System (BESS) projects through a subsidiary, and INR 125 crore for general corporate purposes. The warrants will be allotted within 15 days of the resolution's passing, subject to regulatory approvals.

The relevant date for determining the floor price is September 15, 2025. The company's board has decided on an issue price of INR 245, which is higher than the 90-day and 10-day volume-weighted average prices of INR 212.25 and INR 243.60, respectively, as per SEBI ICDR Regulations. Promoters and the promoter group intend to contribute INR 2,40,00,69,000 to the offer.