Godawari Power to invest INR 3 bln in arm, INR 7.5 bln for solar power plant
This story was originally published at 18:46 IST on 14 November 2025
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--Godawari Power to invest up to INR 3 bln in arm Godawari New Energy
MUMBAI – Godawari Power & Ispat Ltd. Friday said its board has approved a proposal to invest up to INR 3 billion in wholly-owned subsidiary Godawari New Energy Pvt. Ltd. in one or more tranches. The investment will be completed by Mar. 31, 2027, the company said in an exchange filing. The board also approved the investment of INR 7.5 billion to set up a 250 megawatt solar power plant in Raigarh, Chhattisgarh.
Godawari New Energy will use the funds invested for capital expenditure to set up a battery energy storage system plant and to meet its working capital needs. Godawari Power will subscribe to 124.95 million 0.1% non-cumulative, optionally convertible redeemable preference shares of face value INR 10 each of the subsidiary via a rights issue at par. It will invest the balance amount in equity or preference shares in one or more tranches, the company said.
The solar power plant will meet the power needs of an upcoming cold rolling mill project and replace the high-cost thermal or grid power supply of an existing steel plant at Siltara in Raipur district. The project is expected to be commissioned by March 2027, the company said in an exchange filing.
The board also approved the allotment of 20.41 million equity warrants at a price of INR 245 per warrant, convertible into an equal number of equity shares, to specified investors on private placement basis, the company added.
Godawari Power & Ispat reported a consolidated net profit from continuing operations of INR 1.61 billion for the September quarter on a revenue of INR 13.08 billion. Friday, shares of the company closed 5.1% higher at INR 276.70 on the National Stock Exchange. End
Reported by Pooja Sawant
Edited by Rajeev Pai
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