The company’s shares have witnessed a solid turnaround in recent weeks as sentiment improved.(Pixabay)AI Quick ReadShares of the multibagger stock Godawari Power and Ispat Limited are likely to remain in focus on Tuesday, April 21, after the company announced the allotment of equity shares following the conversion of warrants by a key investor.
In an exchange filing today, the company said its Stakeholders’ Relationship Committee has approved the allotment of 13.61 lakh equity shares of Re 1 each at a premium of ₹244 per share, pursuant to the conversion of warrants.
The allotment comes after Meridien Realtech Private Limited exercised its option to convert an equal number of warrants into equity shares upon payment of the remaining 75% of the issue price. The company received ₹183.75 per warrant on conversion, aggregating to approximately ₹25 crore.
Earlier, the company had allotted over 2.04 crore convertible warrants at an issue price of ₹245 per warrant on a preferential basis to promoters and non-promoter investors. Of this, 25% of the issue price had already been received at the time of allotment, as per the company's regulatory filing.
"Out of the above seven warrant holders, one warrant holder, namely Meridien Realtech Private Limited (MRPL), has exercised the option for conversion of 1,361,000 warrants into an equal number of equity shares of the company upon payment of the balance 75% of the issue price of the warrants," the company said in its regulatory filing.
The company has been in the headlines in recent weeks following major announcements.
The company last week said it has increased its investment in its wholly owned subsidiary, Godawari New Energy Private Limited (GNEPL), through a fresh equity infusion of ₹50 crore. The funds will be utilised by GNEPL to meet its proposed capex and working capital requirements for setting up a battery energy storage plant.
In late March, the company's board approved a proposal to set up an integrated steel plant with a capacity of 1 million tonnes per annum (MTPA) of iron and steel finished products.
The proposed facility will be located in the village of Sarora in the Raipur district, Chhattisgarh, with an estimated investment of ₹7,000 crore. The project will be funded through a mix of debt and equity (internal accruals) in a 1:1 ratio.
The company’s shares have witnessed a solid turnaround in recent weeks as sentiment improved. Even when the broader market was struggling to find momentum, the stock hit multi-month highs. From its March lows of ₹237.70 apiece, the shares have recovered 26%.
Last week, the stock reached a fresh record high of ₹310apiece. The recovery rally has also contributed to a 13% surge in 2026 so far. Impressively, the stock has delivered positive returns over the last six years, with 2023 being the biggest annual gain of 133%, followed by 103% in 2022.
In terms of cumulative gains, the stock has delivered a whopping 2,193%, rising from ₹11.60 apiece to ₹266 apiece. Over the last five years it has gained 680%.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments.
He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom.
During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles.
He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements.
His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.