The Board of Godawari Power & Ispat at its meeting held on 19 November 2024 has approved acquisition of up to 51% stake in Jammu Pigments (JPL) for a consideration of Rs 255 crore.
JPL is engaged in the Business of Recycling of NonFerrous Metals with operations covering recycling of Lead Acid Batteries and other
Secondary Lead waste. The company and its subsidiaries are also equipped to process complex mixtures of Industrial waste of non-ferrous metals. JPL's advanced technical expertise enables the efficient extraction of trace metals from waste materials ensuring highly cost-effective operations. JPL & its subsidiaries has manufacturing units located at Kathua district, Jammu & Kashmir and Kota, Rajasthan.
The Board also approved to cancel the proposed transactions with RG Pigments (RGPL) for acquisition of 74% stake in RGPL, which was approved by the Board of Directors of GPIL in its meeting
held on 6 November 2024. RGPL is the wholly owned subsidiary of JPL and shall continue to be 100% subsidiary of JPL.