HDFC Mutual Fund acquires 6.04 pc equity in Godawari Power

Mumbai, May 06 (UNI) HDFC Mutual Fund has acquired a total of 15 lakh equity shares of Godawari Power and Ispat Ltd (GPIL), which amounts to 6.04 percent of equity paid up share capital of the company.

As per the details of this acquisition, the company said, 10 lakh equity shares have been bought under the HDFC Core and Satellite Fund Scheme, 2.5 lakh equity shares under HDFC Monthly Income Fund- Short Term Plan and 2.5 lakh equity shares under HDFC Childrens Gift Fund Investment Plan.

Godawari Power and Ispat Ltd (GPIL) is an existing profit making company promoted by Rs.550 crore Hira Group of Industries. The company is presently engaged in integrated business of manufacturing Sponge Iron, Steel billets and captive power generation.

GPIL had recently entered the capital market to par finance setting up of another unit as a part of second phase of expansion.

UNI SN PM AW1634