Godawari Power And Ispat limited — JV/Acquisition, 20-11-2024: Acquisition

Godawari Power and Ispat Limited (GPIL) is set to acquire a 51% stake in Jammu Pigments Limited (JPL) for Rs 254.52 Crores. This strategic acquisition aims to diversify GPIL's business into the recycling of non-ferrous metals, an emerging growth area. JPL, which operates in lead-acid battery recycling and hazardous waste management, reported consolidated revenues of Rs 1173.78 Crores for FY 2023-24. The acquisition will occur in tranches, with completion expected by March 31, 2025, and is anticipated to unlock operational efficiencies and enhance market positioning for GPIL.