Godawari Power transfers 16.87% stake in Ardent Steel for INR 405 million
This story was originally published at 20:09 IST on 6 March 2026
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NEW DELHI – Godawari Power & Ispat Ltd. has transferred 16.87% stake in its associate Ardent Steel Pvt. Ltd. for INR 405 million as part of the planned sale of its entire stake in the associate company, according to an exchange filing Friday. After the transfer, Godawari Power & Ispat's stake in associate company has dropped to 20.98% from 37.85%.
The company transferred 1.34 million equity shares of Ardent Steel to the buyer's account Friday, completing the first tranche of the transfer. In February, the company had announced plans to sell its entire 37.85% stake in Ardent Steel for INR 908.7 million, subject to statutory and contractual approvals.
On Friday, shares of Godawari Power & Ispat ended at INR 247.35 apiece on the National Stock Exchange, down over 0.5%. For the December quarter, Godawari Power & Ispat had reported a consolidated net profit of INR 1.43 billion on revenues of INR 11.39 billion. End
Reported by Gunjan Rajput
Edited by Avishek Dutta
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