October 29, 2024
New Delhi, India
Godavari Biorefineries IPO
The allotment status for the ₹554.75 crore initial public offering (IPO) of Godavari Biorefineries has been finalized, with shares set to debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 30. The company, specializing in ethanol-based chemicals, initially opened its IPO for bidding between October 23 and October 25 with a price band set at ₹334 to ₹352 per share.
IPO Allotment Status and Listing Details
Investors who subscribed to the Godavari Biorefineries IPO can check their allotment status on Link Intime India’s website, the official registrar of the issue, or via the NSE and BSE platforms by using their PAN and application number. Refunds for unsuccessful bids will be initiated on October 29, while shares will be credited to successful bidders’ Demat accounts the same day.
IPO Subscription Details and Demand Overview
The IPO received a mixed response, with overall subscription standing at 1.83 times on the final day of bidding. The retail investor segment was subscribed 1.71 times, while demand among qualified institutional buyers (QIBs) reached 2.76 times, with QIBs bidding for 86.89 lakh shares against an allotment of 31.45 lakh. The non-institutional investor (NII) category, however, fell slightly short, booking only 90% of its allotted quota.
Breakdown of the ₹554.75 Crore IPO Offer
Godavari Biorefineries’ IPO featured a fresh issuance of 92 lakh shares worth ₹325 crore, alongside an offer-for-sale (OFS) of 65 lakh shares, aggregating to ₹229.75 crore. The funds raised will primarily be utilized to repay the company’s outstanding borrowings and for general corporate purposes.
About Godavari Biorefineries
Founded in 1956, Godavari Biorefineries Limited produces ethanol-based chemicals and sugar. The company’s diverse portfolio serves industries such as food and beverages, pharmaceuticals, personal care, cosmetics, and power. As of June 2024, the company employed 1,583 workers on a permanent basis.
With a strong demand from institutional investors, Godavari Biorefineries’ IPO is set to become a noteworthy debut on the Indian stock exchanges this October 30.
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