Godawari Power and Ispat Ltd has acquired 37,79,220 equity shares of Alok Ferro Alloys Limited (AFAL) at a fair value comprising of 78.96% of the paid-up capital of AFAL.
Alok Ferro Alloys Limited is a constituent of Hira group of companies. The shares have been acquired at Fair Market Value i.e. Rs.336 per share.
AFAL was incorporated on 26.02.1987 and is engaged in the business of manufacturing Ferro Alloys for more than three decades. The turnover of the company in 2019-20, 2020-21 and 2021-22 has been Rs. 76.59 Crores, Rs.78.60 Crores and 134.65 Crores respectively. The Company is having its operations in Raipur, Chhattisgarh only.