Godawari Power clarifies shareholding percentages after preferential issue

Godawari Power and Ispat Limited (GPIL) has responded to a query from the National Stock Exchange (NSE) regarding its application for in-principle approval to issue 20,408,220 warrants. These warrants are convertible into an equal number of equity shares of Re. 1/- each, on a preferential basis. The NSE sought clarification on potential contradictions between percentages stated in the general meeting notice and the shareholding pattern.

The company clarified that the 63.05% mentioned in point xix of the Explanatory Statement refers to the total post-preferential issue percentage of shares held by promoters and the promoter group, including promoter group allottees. The 1.54% figure in the same point refers specifically to the non-promoter group allottees only.

Furthermore, GPIL referred to point viii of the Explanatory Statement, which details the post-preferential issue capital percentages for allottees. Point xii clarifies that the post-preferential capital held by promoters and the promoter group, along with non-promoters, will stand at 63.05% and 36.95%, respectively, with no change in company control expected as a result of the preferential issue.