Godawari Power And Ispat Limited (GPIL) has stated that there is no deviation or variation in the utilization of proceeds from its preferential issues of Fully Convertible Warrants. This confirmation pertains to the objects outlined in the Explanatory Statement for the Extra-Ordinary General Meeting held on 15.10.2025. The company has submitted a statement of nil deviation or variation for the quarter ended 31.12.2025, which has been reviewed by the Audit Committee. The funds raised through the preferential allotment of warrants on 14.11.2025 amounted to ₹125.00 Crores. Additionally, ₹5.01 Crores were received from a warrantholder for exercising a conversion option during the quarter, which remains unutilized. GPIL has confirmed that the received funds have been utilized for the objects mentioned in the offer documents, with no diversion for other purposes.
