Godawari Power and Ispat Limited (GPIL) has successfully completed the sale of its remaining stake in Ardent Steel Private Limited (ASPL). The transaction, finalised on 21 May 2026, involved the transfer of 730,400 equity shares, representing 9.22% of ASPL’s equity, for a consideration of ₹22.18 crore.
This marks the conclusion of GPIL’s divestment from ASPL, an associate company, reducing its stake from 9.22% to 0.00%. The sale is part of a broader strategy that began with an announcement on 6 February 2026, where GPIL disclosed its intention to dispose of its entire 37.85% stake in ASPL for a total of ₹90.87 crore, subject to statutory and contractual conditions.
The company had previously communicated updates on this transaction on 6 March, 24 March, and 20 April 2026, as it progressed through various tranches of share transfers. With the final tranche now completed, GPIL has fully exited its investment in ASPL.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).