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Mumbai, Nov 14 Godawari Power and Ispat Ltd, an integrated manufacturer of sponge iron, steel billets, wires and ferro alloys, plans to raise Rs 210 crore by way of qualified institutional placement, global depository receipts, American depository receipts and foreign currency convertible bonds (FCCBs).

The company will also offer 10 lakh convertible warrants to promoters and promoters’ group on a preferential basis and each warrant shall be convertible into one equity share of Rs 10 each fully paid up at a price which is not lower than the price determined in accordance with the SEBI guidelines.

The board has approved the increase of the company’s authorised share capital from Rs 25 crore to Rs 35 crore by creation of an additional one-crore equity shares of Rs 10 each, the company said. Godawari Power and Ispat Ltd is a flagship company of the Rs 1,000-crore Hira Group of Industries, Raipur.

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