Stock Market News: Shares of THIS company trade in green after increasing stake in subsidiary, check details here

The investment was made at an arm's-length price after converting preferred shares into equity, and there is no separate promoter or group stake.

New Delhi: Iron and steel products manufacturing company, Godawari Power and Ispat Ltd has given important information in its latest exchange filing, after which the company’s share was trading at Rs 264.20, up by 5.38% or Rs 13.50 on NSE and on BSE, the stock was trading at Rs 264.10, up by 5.28% or Rs 13.25. In its latest exchange filing today, the company said that its wholly-owned subsidiary Godavari New Energy Private Limited (GENPL) has converted 0.1% non-cumulative, participating, optionally convertible redeemable preference shares (Series 1 and 2) into equity shares. A total of 19.89 crore equity shares (face value Rs 10 per share) have been allotted.

Following this conversion, the company’s investment in GENPL has increased from 101.1 million shares to 300 million equity shares, representing a 100% stake. Significantly, this increase occurred without any additional investment (funds).

Godavari New Energy Private Limited (GNEPL) is a new company incorporated on June 25, 2025, and is currently in the process of installing a 20 GWh battery energy storage system (BESS) plant in the first phase. The company will operate in the energy sector, with a particular focus on battery storage technology.

The investment in the company is a related party transaction, as GNEPL is a wholly-owned subsidiary of the parent company. The investment was made at an arm’s-length price after converting preferred shares into equity, and there is no separate promoter or group stake.

The conversion was completed on March 18, 2026, with a total of 19.89 crore equity shares (at Rs 10 per share) issued. GNEPL’s registered office is in Raipur, Chhattisgarh, while its operations will be located in Maharashtra.

Godavari Power & Ispat Limited (GPIL) is one of the leading companies in India’s secondary steel manufacturing sector. According to information on the company’s website, it has built its reputation on strength, innovation, and sustainable growth.