Godawari Power and Ispat Limited (GPIL) has infused an additional ₹100 crore into its wholly owned subsidiary, Godawari New Energy Private Limited (GNEPL), as part of its plans to establish a 20 GWh Battery Energy Storage System (BESS) plant in Maharashtra.
According to a regulatory filing submitted to the BSE and NSE on June 5, 2026, GNEPL allotted 10 crore equity shares of face value ₹10 each at par to GPIL on a rights basis. The allotment was completed on June 4 and the parent company received formal intimation on June 5.
Shares of GPIL, which has a market capitalization of ₹18,866.60 crore, were trading at ₹280.45, down 1.94 percent from the previous close of ₹286. The stock touched an intraday high of ₹287.95 and a low of ₹280 and was trading at a P/E ratio of 24.18.
Total investment rises to ₹450 crore
The latest funding follows earlier investment announcements made on February 6 and May 19, 2026. With the fresh allotment, GPIL’s cumulative investment in GNEPL has increased to:
- 45 crore equity shares
- Aggregate investment of ₹450 crore
- 100 percent ownership of GNEPL
Before the latest infusion, GPIL held 35 crore shares with a total investment of ₹350 crore.
Funds earmarked for BESS project
The company said the capital will be used to meet the capital expenditure and working capital requirements of GNEPL, which is developing a 20 GWh Battery Energy Storage System facility in its first phase.
Incorporated on June 25, 2025, GNEPL is currently a pre-revenue entity. As of March 31, 2026, the subsidiary reported:
- Net worth of ₹298.01 crore
- Nil turnover
Its registered office is located in Raipur, Chhattisgarh, while the planned operations will be based in Maharashtra.
The investment qualifies as a related-party transaction because GNEPL is a wholly owned subsidiary of GPIL. The company stated that no promoter group entity or group company has any interest in GNEPL apart from GPIL’s direct ownership.
Strategic diversification into energy storage
The investment marks GPIL’s expansion beyond its core steel and power businesses into energy storage. Battery Energy Storage Systems are increasingly seen as essential for integrating renewable energy sources and managing grid stability.
The company is developing the project at a time when India is pursuing its target of 500 GW of non-fossil fuel capacity by 2030, supported by initiatives such as the Production Linked Incentive (PLI) scheme for Advanced Chemistry Cell batteries and grid-scale storage tenders from utilities.
Maharashtra, where the facility will be established, is among India’s largest electricity-consuming states and has emerged as an active market for battery storage projects.
Company profile
Godawari Power and Ispat Limited, part of the Hira Group, is headquartered in Raipur, Chhattisgarh. The company operates across iron ore pellets, sponge iron, steel billets, wire rods and captive power generation.
Through Godawari New Energy Private Limited, GPIL is expanding into clean energy infrastructure with a focus on battery storage.
TL;DR:
Godawari Power and Ispat has infused another ₹100 crore into its wholly owned subsidiary, taking total investment to ₹450 crore. The funds will support development of a 20 GWh battery energy storage plant in Maharashtra.
AI summary:
- GPIL invested an additional ₹100 crore in Godawari New Energy.
- Total investment in the subsidiary has reached ₹450 crore.
- GNEPL is developing a 20 GWh BESS facility in Maharashtra.
- The subsidiary currently has no revenue and reported a net worth of ₹298.01 crore.
- The move marks GPIL’s expansion into clean energy storage.
