Godawari Power & Ispat Ltd has completed the second tranche of its stake disposal in Jammu Pigments Limited (JPL), selling 3,35,100 equity shares for ₹10 crore. This transaction reduces the company's shareholding in the associate firm from 39.99% to 38.27%.

The transfer was executed on October 13, 2026, with the consideration received by the company. This move follows an earlier disclosure on July 29, 2026, regarding the initial transfer of 7,74,000 equity shares in JPL.

Divestment Strategy Overview

The current sale is part of a broader partial divestment plan approved by the Board of Directors on July 24, 2026. The board had authorized the sale of a total of 16,75,000 equity shares held by Godawari Power & Ispat in JPL.

Key details of the overall divestment plan include:

• Total Shares Approved for Sale: 16,75,000 equity shares
• Fair Value per Share: ₹298.45
• Aggregate Value: ₹49.99 crore
• Buyers: Promoters of JPL and/or their relatives or affiliates

Transaction History and Stake Reduction

The divestment is being carried out in tranches. The first tranche involved the transfer of 7,74,000 shares, while the recent second tranche covered 3,35,100 shares. The following table summarizes the stake evolution:

What the Numbers Show

A comparison of the approved fair value and the actual transaction value reveals a divergence. The board-approved fair value was set at ₹298.45 per share. However, the second tranche of 3,35,100 shares fetched ₹10 crore, which implies an effective realization of approximately ₹298.42 per share. This slight variance suggests the transaction price closely tracked the initially assessed fair value, indicating a consistent valuation approach across the tranches despite the market conditions between July and October 2026.

Godawari Power & Ispat subsidiary Godawari New Energy Private Limited has received fresh environment clearance for a 20 GWh battery energy storage system (BESS) project in Maharashtra.

The approval was granted by the State Expert Appraisal Committee-3 (SEAC-3) of Maharashtra under the Ministry of Environment, Forest and Climate Change. The clearance covers the construction of an industrial building to house the BESS facility at the AURIC Bidkin Industrial Area in District Chhatrapati Sambhaji Nagar.

Project details and approvals

The environment clearance was accorded vide the 299th Minutes of Meeting of SEAC-3. The document was received by the company on October 5, 2026. The following table summarises the key details of the approved projects:

The battery energy storage system, with a capacity of 20 GWh, marks a significant infrastructure development for Godawari Power & Ispat at the Auric industrial corridor in Maharashtra. The approval for the new industrial building alongside the BESS underlines the company's expanding footprint at this location.

Regulatory context

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The company secretary signed off on the communication to BSE and NSE on October 6, 2026. This regulatory nod is a critical prerequisite for commencing construction activities for the large-scale energy storage infrastructure.