GPIL invests Rs 100 crore in energy storage subsidiary
Godawari Power and Ispat Limited (GPIL) has infused an additional Rs 100 crore into its wholly owned subsidiary, Godawari New Energy Private Limited (GNEPL), through a rights-based allotment of equity shares.
The allotment involved 10,00,00,000 equity shares with a face value of Rs 10 each and was completed on June 4, 2026. GPIL received intimation of the allotment on June 5, 2026.
Following the latest investment, GPIL’s total investment in GNEPL has increased from Rs 350 crore comprising 35,00,00,000 equity shares to Rs 450 crore comprising 45,00,00,000 equity shares. GPIL continues to hold 100% of the paid-up capital of the subsidiary.
According to the company, the funds will be used towards capital expenditure and working capital requirements for the first phase of a planned 20 GWh Battery Energy Storage System (BESS) manufacturing plant.
The project marks GPIL’s expansion into large-scale energy storage manufacturing, aimed at supporting renewable energy integration and grid stability.
Earlier, in April 2026, GPIL invested an additional Rs 50 crore in GNEPL through the allotment of 5 crore equity shares of Rs 10 each. The allotment was completed on April 15, 2026.
On April 13, 2026, GNEPL also entered into a five-year supply agreement with EVE Power Co., Ltd. for lithium ferro phosphate (LFP) cells. The agreement is intended to support the first phase of GNEPL’s proposed 20 GWh BESS manufacturing programme.
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