Godavari Biorefineries IPO Sees 0.07 Subscription Rate on Day 1 as of 11:15 AM

The Godavari Biorefineries IPO opened for subscription today, October 23, 2024, and will close on October 25, 2024. The allotment for this IPO is expected to be finalised on Monday, October 28, 2024. The shares will be listed on both the BSE and NSE, with a tentative listing date set for Wednesday, October 30, 2024.

This IPO is a book-built issue amounting to ₹554.75 crores, consisting of a fresh issue of 0.92 crore shares worth ₹325.00 crores and an offer for sale of 0.65 crore shares totalling ₹229.75 crores.

The price band for the Godavari Biorefineries IPO is set between ₹334 and ₹352 per share, with a minimum lot size of 42 shares. Retail investors need to invest a minimum of ₹14,784.

The company intends to use the net proceeds from the fresh issue towards the repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the company and for general corporate purposes. 

As of October 23, 2024, at 09:31 AM, the Godavari Biorefineries IPO GMP is ₹0.

Godavari Biorefineries IPO Subscription Status

As of Day 1, October 23, 2024, at 11:15 AM, Godavari Biorefineries IPO has been subscribed 0.07 times. The retail category was subscribed 0.12 times, 0.00 times for Qualified Institutional Buyers (QIB), and 0.03 times for Non-Institutional Investors (NII).

About Godavari Biorefineries Limited

Godavari Biorefineries is one of the leading manufacturers of ethanol-based chemicals in India and operates as an integrated bio-refinery. As of June 30, 2024, the company has an installed capacity of 570 KLPD for ethanol production, making it one of the largest producers of ethanol in terms of volume in India as of March 31, 2024. Additionally, it is recognised as the largest global manufacturer of MPO based on installed capacity, one of only two producers of natural 1,3 butylene glycol, and the sole manufacturer of bio ethyl acetate in India. Godavari Biorefineries has also established India’s first bio-based EVE manufacturing facility. Its diverse product portfolio includes bio-based chemicals, sugar, various grades of ethanol, and power.

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