October 23, 2024
New Delhi, India
Godavari Biorefineries IPO
Godavari Biorefineries Ltd, a key manufacturer of ethanol and bio-based chemicals, opened its initial public offering (IPO) for subscription on Wednesday, October 23. The IPO, with a price band of ₹334-352 per share, will close on Friday, October 25.
IPO Details and Purpose
The ₹554.75 crore IPO includes a fresh issue of equity shares worth ₹325 crore and an offer-for-sale (OFS) of 65.27 lakh shares valued at ₹230 crore by promoters and an investor. The funds raised will primarily be used to repay ₹240 crore in borrowings, with the rest allocated for general corporate purposes.
Anchor Investors and Lot Size
Godavari Biorefineries raised ₹166.42 crore in its anchor round from investors like HDFC Mutual Fund, Goldman Sachs, SBI General Insurance, and others. Investors can bid for a minimum lot size of 42 shares, costing ₹14,028, with increments in multiples.
Important Dates
- Subscription Period: October 23-25
- Allotment Finalization: October 28
- Listing Date: October 30 on NSE and BSE
About Godavari Biorefineries
Based in Maharashtra, Godavari Biorefineries is a prominent producer of ethanol-based chemicals such as ethyl acetate, bio-ethyl acetate, and bio-acetic acid. Its products serve industries like food, pharmaceuticals, fuel, and personal care. The company also markets sugar, salt, jaggery, and turmeric under the brand name Jivana.
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