Godawari Power & Ispat Ltd. (GPIL) has announced its plan to acquire a 51% stake in Jammu Pigments Ltd. (JPL) for a total consideration of ₹255 crore, on a fully diluted basis. The acquisition, which is subject to the execution of definitive transaction documents and meeting certain regulatory conditions, marks a significant expansion for GPIL in the non-ferrous metals recycling sector.
JPL specializes in recycling non-ferrous metals, with a particular focus on processing lead-acid batteries and other secondary lead waste. The company and its subsidiaries are equipped with advanced facilities to handle complex mixtures of industrial waste, enabling the efficient recovery of trace metals.
The acquisition aligns with GPIL’s strategic intent to diversify its operations and tap into sustainable metal recycling. JPL’s manufacturing facilities are located in Kathua, Jammu & Kashmir, and Kota, Rajasthan. The company’s technical expertise allows for cost-effective operations through the efficient extraction of valuable materials from industrial waste.
The transaction, once finalized, is expected to enhance GPIL’s portfolio, leveraging JPL’s robust capabilities in metal recycling to create synergies in operations and sustainability initiatives.