Godavari Biorefineries’s IPO Opens on October 23: Investors Can Bid Until October 25, Minimum Investment ₹14,784
The initial public offering (IPO) of Godavari Biorefineries Limited will open on October 23. Investors can bid for this issue until October 25. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 30.
The company aims to raise ₹554.75 crores through this issue. To achieve this, the company is issuing 9,232,955 new shares worth ₹325 crores. Additionally, current investors are selling shares worth ₹229.75 crores through an offer for sale (OFS), totaling 6,526,983 shares.
Minimum and Maximum Investment Amounts for Godavari Biorefineries’s IPO
Godavari Biorefineries Limited has set the price band for this issue at ₹334-₹352. Retail investors can bid for a minimum of one lot, which consists of 42 shares. If you apply for one lot at the upper price band of ₹352, you will need to invest ₹14,784.
At the same time, retail investors can apply for a maximum of 13 lots, totaling 546 shares. For this, investors will need to invest ₹192,192 according to the upper price band.
IPO Allocation for Retail Investors
The company has reserved 35% of the issue for retail investors. Additionally, 50% of the issue is allocated for qualified institutional buyers (QIBs). The remaining 15% of shares are reserved for non-institutional investors (NIIs).
Overview of Godavari Biorefineries Limited
Godavari Biorefineries Limited was established in 1956 and specializes in the production of chemicals for ethanol. As of June 2024, the company’s ethanol production capacity stands at 570 kiloliters per day.
The product portfolio includes bio-based chemicals, sugar, various types of ethanol, and power. These products are utilized across industries such as food, beverages, pharmaceuticals, flavors and fragrances, power, fuel, personal care, and cosmetics. Godavari Biorefineries operates two manufacturing facilities and three research and development (R&D) centers.
What is an IPO?
An Initial Public Offering (IPO) occurs when a company offers its shares to the general public for the first time. Companies often need funds to expand their business, and instead of taking loans from the market, they raise capital by selling existing shares or issuing new shares to investors.
This process allows the company to gather necessary funds while giving investors an opportunity to buy a stake in the company.
