Godawari Power and Ispat Limited has announced the conversion of preference shares worth ₹198.90 crores into equity shares in its wholly owned subsidiary Godawari New Energy Private Limited (GNEPL). The conversion was completed on 18.03.2026, representing a strategic restructuring of the company's investment in the energy storage sector.

Share Conversion Details

The conversion involved two series of Non-Cumulative Participating Optionally Convertible Redeemable Preference Shares being transformed into equity shares at par value. The transaction increased GPIL's equity shareholding in GNEPL significantly while maintaining complete ownership control.

The preference shares were originally allotted on 18.11.2025 and 16.12.2025 respectively, with the conversion executed according to the predetermined terms and conditions of the preference share issuance.

Investment Structure Changes

Following the conversion, GPIL's equity investment structure in GNEPL has been substantially enhanced without requiring additional capital infusion. The company's shareholding increased from 10,11,00,000 equity shares to 30,00,00,000 equity shares, maintaining its 100% ownership stake in the subsidiary.

Subsidiary Business Focus

Godawari New Energy Private Limited, incorporated on 25.06.2025, operates in the energy sector with specific focus on Battery Energy Storage System (BESS) technology. The subsidiary is currently developing a 20 GWh Battery Energy Storage System plant as its first phase project.

Key Business Parameters:

• Industry Sector: Energy - Battery Energy Storage System
• Registered Office: Raipur, Chhattisgarh
• Operations Location: Maharashtra
• Net Worth (as on 31.12.2025): ₹101.10 crores
• Current Turnover: Nil (development stage)

Regulatory Compliance

The transaction has been disclosed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. As a related party transaction involving a wholly owned subsidiary, the conversion was executed at arm's length pricing without requiring additional governmental or regulatory approvals.

The conversion represents a non-cash consideration transaction, with the cost of the original preference share investment serving as the acquisition cost for the new equity shares. This strategic restructuring positions GPIL for enhanced participation in India's growing energy storage market through its subsidiary's planned battery energy storage system operations.

Godawari Power and Ispat Limited has informed stock exchanges about shareholder approval for alteration of its Memorandum of Association (MOA) to enable logistics activities. The approval was granted at the Extra-Ordinary General Meeting (EGM) held on 14th March, 2026, which concluded at 12:00 Noon (IST) through video conferencing.

Regulatory Compliance and Notification

The company submitted the notification under Regulation 30 read with Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 through reference letter GPIL/NSE&BSE/6246. The submission was made to both BSE Limited (Scrip Code: 532734) and National Stock Exchange of India Limited (Scrip Code: GPIL), confirming successful completion of the MOA amendment process.

Comprehensive Voting Results

The voting results demonstrated exceptional shareholder confidence with 99.99% approval across all categories. The detailed breakdown showed strong support from both promoter and public shareholders, with 451,144,160 votes polled out of total 671,167,908 shares.

Specific MOA Amendment Details

The alteration involves insertion of a new clause 4 after sub-clause 3 of clause III (A) of the company's Memorandum of Association. The amendment enables the company to establish, maintain and operate comprehensive transportation services including shipping, air transport, rail transport and road transport services along with ancillary services.

The new clause specifically authorizes the company to purchase, charter, hire, build or acquire ships, vessels, aircraft, railway wagons, motor vehicles and related equipment. This includes authority to maintain, repair, improve, insure, alter, sell, exchange or lease transportation assets and equipment.

Strategic Business Expansion

This MOA amendment represents Godawari Power and Ispat Limited's strategic initiative to diversify beyond traditional power and steel operations into logistics sector. The comprehensive transportation clause provides the company with broad operational flexibility across multiple transport modes, potentially opening new revenue streams and business opportunities in the logistics industry.

The company secretary Y.C. Rao signed the regulatory submission, confirming completion of all compliance requirements under the listing regulations for this significant corporate restructuring initiative.