Godawari Power Invests ₹100 Crore In Battery Storage Arm; Shares Decline

Mumbai, June 5: Godawari Power and Ispat Ltd (GPIL) has invested ₹100 crore in its wholly owned subsidiary, Godawari New Energy Private Ltd (GNELP), as the company accelerates its entry into the battery energy storage segment.

The investment was made through a rights issue of 10 crore equity shares of ₹10 each allotted to GPIL on June 4, 2026, according to the company’s exchange filing.

With the latest capital infusion, GNELP’s paid-up equity share capital increased from ₹35 crore to ₹45 crore. GPIL said the funds will be used for capital expenditure and working capital needs linked to the first phase of its proposed 20 GWh Battery Energy Storage System (BESS) plant.

The project is expected to come up in Chhattisgarh and Maharashtra, positioning the company in one of the fastest-growing areas of India’s clean energy infrastructure ecosystem.

Stock Market Snapshot

Despite the strategic investment announcement, Godawari Power share price traded lower during Thursday’s session.

The stock was trading at ₹280.70 on the NSE, down 1.85% or ₹5.30 as of 2:38 PM IST on June 5, 2026, according to exchange data.

The decline came amid broader weakness across several metal and industrial counters, even as investors continued to track the company’s diversification into new energy businesses.

Company Expands Beyond Core Steel Operations

GPIL, traditionally known for its steel and power operations, has been gradually increasing its focus on renewable and energy-transition opportunities.

Battery energy storage systems are becoming increasingly critical for managing renewable power integration and grid stability as India expands solar and wind generation capacity. Industry participants expect demand for large-scale storage infrastructure to rise significantly over the coming years.

GNELP, incorporated in June 2025, has not yet commenced commercial operations. However, the subsidiary has been created specifically to build GPIL’s presence in the battery energy storage value chain.

The company said the transaction qualifies as a related-party transaction because GNELP is a wholly owned subsidiary, though it clarified that no promoter group entities hold any separate interest in the subsidiary beyond GPIL’s ownership.

Source:

• https://www.nseindia.com/get-quote/equity/GPIL/Godawari-Power-And-Ispat-limited
• https://nsearchives.nseindia.com/corporate/GPIL_05062026122332_GPILNSEBSEGNEPLACQ100CR05062026.pdf