Team News Riveting
Raipur, September 9
Alok Ferro Alloys Limited (AFAL), AFAL, a premier company in Hira Group and in Indian Ferro alloys manufacturing sector, has become the wholly owned subsidiary of Godawari Power and Ispat Limited (GPIL).
“We would like to inform you that Alok Ferro Alloys Limited (AFAL), a subsidiary company made a Buyback Offer for purchase of 29,91,875 Equity Shares. Godawari Power and Ispat Limited (GPIL) being a holding Company did not participate in the aforesaid buyback offer as result, the equity shares held by all other existing shareholders of AFAL have been purchased. Consequently, AFAL has become 100 per cent Subsidiary Company of GPIL,” the company said in a regulatory filing today.
GPIL is the flagship entity of the Chhattisgarh-based Hira Group.
AFAL was incorporated on February 26, 1987 and is engaged in the business of manufacturing Ferro Alloys for more three decades. The turnover of the company in 2021-22, 2022-23 and 2023-24 has been Rs13465.3l lakh. Rs 69l I.68 lakh and Rs 9620.89 lakh respectively.
