Godawari Power & ISPAT is set to hold an Extra-Ordinary General Meeting (EGM) on October 15, 2025, to seek shareholder approval for a significant capital raising initiative. The company plans to issue up to 2.04 crore warrants at ₹245 per warrant, aiming to raise ₹500 crore through a preferential allotment.

Key Details of the Proposed Warrant Issue

• Issue Size: 2,04,08,220 warrants
• Issue Price: ₹245 per warrant
• Total Fundraise: ₹500.00 crore
• Conversion Ratio: Each warrant is convertible into one equity share
• Conversion Period: Within 18 months from the date of allotment

Allottees and Allocation

The warrants will be issued to a mix of promoters, promoter group members, and identified non-promoters:

Utilization of Funds

Godawari Power & ISPAT has outlined the following plans for the funds raised:

1. Cold Rolling Mill Project: ₹200.00 crore
2. Investment in Subsidiary: ₹175.00 crore for Battery Energy Storage System projects through Godawari New Energy Private Ltd
3. General Corporate Purposes: ₹125.00 crore

Impact on Shareholding

Post-issue, assuming full conversion of warrants:

• Promoter and promoter group shareholding: Expected to increase to 63.05% from the current 63.51%
• Public shareholding: Expected to decrease to 36.95% from the current 36.49%

Regulatory Compliance and Monitoring

• The company has appointed CARE Ratings Limited as the monitoring agency to oversee the utilization of the issue proceeds.
• The warrant issue price of ₹245 is higher than the minimum price calculated as per SEBI ICDR Regulations, which stands at ₹243.60.

EGM and Voting Details

• Date and Time: October 15, 2025, at 11:30 AM IST
• Mode: Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
• E-voting Period: October 11-14, 2025
• Cut-off Date for Voting Eligibility: October 8, 2025

Shareholders are encouraged to participate in the EGM through the provided VC/OAVM facility and exercise their voting rights on this significant corporate action.

The proposed warrant issue represents a strategic move by Godawari Power & ISPAT to strengthen its financial position and fund its growth initiatives, particularly in the cold rolling and energy storage sectors.

Godawari Power & ISPAT , a prominent player in the power and steel sector, has issued a corrigendum to correct spelling errors in investor names for their preferential issue of convertible warrants worth Rs 500 crore. This move demonstrates the company's commitment to accuracy and transparency in its financial dealings.

Corrections in Investor Names

The company has made the following corrections to investor names:

• Mrs Sarita Agrawal corrected to Mrs Sarita Devi Agrawal
• Shree Nakoda Pipes Impex Private Limited corrected to Shree Nakoda Pipe Impex Private Limited
• Meridian Realtech Private Limited corrected to Meridien Realtech Private Limited

Key Details of the Warrant Issuance

• Number of Warrants: Up to 2.04 crore (2,04,08,220)
• Price per Warrant: Rs 245.00
• Total Value: Rs 500 crore (Rs 500,00,13,900.00)
• Conversion Ratio: Each warrant is convertible into 1 fully paid-up equity share
• Conversion Period: Within 18 months from the date of allotment

Impact on Shareholding

Assuming full conversion of the warrants, the company's shareholding structure is expected to change as follows:

Significance of the Warrant Issue

This preferential issue of convertible warrants to seven investors represents a strategic move by Godawari Power & Ispat to raise capital. The funds could potentially be used for expansion, debt reduction, or other corporate purposes.

The correction of investor names underscores the company's attention to detail and commitment to maintaining accurate records. This level of transparency is likely to be appreciated by investors and regulatory authorities alike.

As Godawari Power & Ispat moves forward with this significant financial decision, investors and market watchers will be keen to observe how the funds are utilized to drive growth and enhance shareholder value. The successful completion of this warrant issue could provide the company with the financial flexibility needed to pursue its strategic objectives in the competitive power and steel sector.