Godawari Power and Ispat Limited (GPIL) has announced a reduction in its stake in Ardent Steel Private Limited (ASPL) to 9.22% after transferring 7,32,000 equity shares. The transaction, completed on 20 April 2026, was valued at ₹22.18 crore.
The transfer is part of GPIL’s ongoing divestment strategy, initially disclosed on 6 February 2026, to sell its entire 37.85% stake in ASPL for a total consideration of ₹90.87 crore. This strategic move is subject to the fulfilment of all requisite statutory and contractual requirements.
Prior to this recent transaction, GPIL’s stake in ASPL stood at 18.46%. The completion of this third tranche of share transfer marks a significant step in GPIL’s plan to reduce its holdings in the associate company.
GPIL continues to focus on its core operations while strategically managing its investment portfolio. The company has been actively adjusting its holdings in ASPL to align with its long-term business objectives.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).