Stock market update: Shares of this company gain as it converts 13,61,000 warrants into equity shares, check details

The company provided significant information in its latest exchange filing after market hours on Monday, following which the stock is seeing a surge today.

Stock market update: Amid the continued rally in the stock market on Tuesday, the stock of Godawari Power and Ispat Ltd., a manufacturer of iron and steel products, is on investors’ radar. The company provided significant information in its latest exchange filing after market hours on Monday, following which the stock is seeing a surge today.

What did the company say in recent latest exchange filing?

In its latest exchange filing, the company stated that it had previously announced on November 14, 2025, that it had allotted 20,408,220 convertible warrants to the promoter, promoter group, and certain other non-promoter investors on a preferential basis. Each warrant was priced at ₹245. Of this, 25%, or ₹61.25 per warrant, was received by the company as initial subscription at the time of issuance.

The company has now announced that M/s Meridien Realtech Private Limited (MRPL), one of the seven warrant holders mentioned above, has exercised its option to convert its 13,61,000 warrants into equity shares by paying the remaining 75% of the warrant amount, i.e., ₹183.75 per warrant.

What was decided in Stakeholders’ Relationship Committee of the Company’s Board?

Subsequently, the Stakeholders’ Relationship Committee of the Company‘s Board, through a circular resolution dated April 20, 2026, allotted 13,61,000 equity shares (face value of Re 1 each and a premium of Rs 244) to the Company, raising a total of approximately Rs 25 crore (₹25,00,83,750) in this process.

How are stocks of the company performing?

At the time of writing the news, the stock was trading at Rs 302, up 0.65% or Rs 1.95 on the NSE at 10:41 am and on the BSE, the stock was trading at Rs 301.70, up 0.50% or Rs 1.50. Technically, the stock trades higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

More notably, the stock’s 14-day relative strength index (RSI) is 64.49. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.