Godawari Power & Ispat rises on inking pact to acquire stake in Hira Ferro Alloys from Hira infraTek
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Godawari Power & Ispat is currently trading at Rs. 379.85, up by 1.20 points or 0.32% from its previous closing of Rs. 378.65 on the BSE.
The scrip opened at Rs. 381.65 and has touched a high and low of Rs. 384.00 and Rs. 375.30 respectively. So far 12329 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 460.00 on 29-Jul-2021 and a 52 week low of Rs. 161.25 on 22-Mar-2021.
Last one week high and low of the scrip stood at Rs. 385.35 and Rs. 360.10 respectively. The current market cap of the company is Rs. 5310.10 crore.
The promoters holding in the company stood at 67.50%, while Institutions and Non-Institutions held 2.32% and 30.18% respectively.
Godawari Power & Ispat (GPIL) has signed a Share Purchase Agreement with Hira infraTek (HITL) on March 21, 2022 to acquire 44,54,621 equity shares of Hira Ferro Alloys (HFAL) from HITL at a price of Rs 224 per share.
Subsequent to acquisition of these 44,54,621 equity shares of HFAL from HITL, the GPIL's holding in HFAL shall increase from 56.45% to 75.66% of the paid-up capital of HFAL. The transaction will be completed within 10 days.
Godawari Power & Ispat is engaged in the production of sponge iron, steel billets, ferro alloys, HB wires, oxygen, fly ash bricks and is also in the power business.
