Sarda Energy & Minerals Ltd has disclosed its acquisition of shares in Godawari Power & Ispat Limited through secondary market transactions, as announced in a regulatory filing dated March 6, 2026. The acquisition represents a strategic market investment by the company in the iron and steel sector.

Acquisition Details

The transaction involved the purchase of equity shares through cash consideration via stock exchange operations. The acquisition was executed over a period spanning from December 16, 2025, to March 5, 2026, with the final material limit-crossing transaction completed on March 5, 2026.

Target Company Profile

Godawari Power & Ispat Limited operates as a listed public company domiciled in India, primarily engaged in the iron and steel industry. The company's business operations encompass mining of iron ore and manufacturing of iron ore pellets, sponge iron, steel billets, wire rods, H.B. wire and ferro alloys, along with electricity generation.

Financial Performance

The target company has demonstrated substantial revenue generation over the past three financial years. Godawari Power & Ispat reported a turnover of ₹4,661.25 crore for FY 2024-25.

Transaction Structure

The acquisition represents a non-related party transaction conducted at arm's length through secondary market operations. The shareholding percentage of 0.22% has been calculated based on 669,795,408 shares on which voting rights are exercised. No governmental or regulatory approvals were required for completing this acquisition.

Strategic Rationale

Sarda Energy & Minerals has classified this acquisition as a market investment, indicating the company's strategy to diversify its investment portfolio within the metals and mining sector. The transaction aligns with the company's broader investment objectives while maintaining its focus on the industrial sector.

The Supreme Court has delivered a decisive ruling in favor of Sarda Energy & Minerals , rejecting all appeals filed by unsuccessful resolution applicants against the company's resolution plan for SKS Power Generation (Chhattisgarh) Ltd. The apex court's order, pronounced on February 27, 2026, upholds the earlier approval granted by the National Company Law Tribunal (NCLT) on August 13, 2024.

Volume Movement Clarification

Following increased trading volumes, Sarda Energy & Minerals has provided clarification to BSE Ltd regarding the market activity. In response to BSE's volume movement inquiry dated March 2, 2026, Company Secretary Manish Sethi confirmed that the volume increase is purely market-driven and not connected to any management actions.

The company emphasized its commitment to adhering to all compliance requirements under the SEBI Listing Regulations and other applicable laws, stating that all material information affecting operations and performance has been disclosed within stipulated timeframes.

Supreme Court Order Update

In an official communication to stock exchanges, Sarda Energy & Minerals confirmed that the Supreme Court rejected all appeals challenging the company's resolution plan under the Corporate Insolvency Resolution Process (CIRP) on February 27, 2026. The ruling effectively validates the comprehensive restructuring proposal for the acquisition of SKS Power Generation (Chhattisgarh) Ltd.

Corporate Communication and Compliance

The company has maintained transparent communication with both BSE Ltd. (Security Code: 504614) and National Stock Exchange of India Ltd. (Symbol: SARDAEN, Series: EQ) regarding all developments. Company Secretary Manish Sethi has been instrumental in ensuring timely disclosures and regulatory compliance throughout the resolution process.

The Supreme Court's decision provides final judicial closure to the resolution process, eliminating legal uncertainties that had surrounded the acquisition. This ruling demonstrates the robustness of India's insolvency framework and reinforces the finality of approved resolution plans under the Corporate Insolvency Resolution Process, representing a significant milestone for Sarda Energy's growth strategy in the power sector.