Godavari Biorefineries Limited is gearing up for its IPO, set to open for subscription on October 23, 2024. The ethanol-based chemicals manufacturer plans to raise approximately ₹555 crore through a combination of a fresh issue and an offer-for-sale (OFS). Here’s what you need to know about this IPO:
Offer Details:
- IPO Size: ₹554.75 crore, with a fresh issue of 92 lakh shares worth ₹325 crore and an OFS of 65 lakh shares worth ₹229.75 crore.
- Price Band: ₹334 to ₹352 per share.
- Lot Size:
- Retail Investors: Minimum bid size of 42 shares, aggregating to an investment of ₹14,784.
- Small Non-Institutional Investors (sNII): 14 lots (588 shares), amounting to ₹2,06,976.
- Big Non-Institutional Investors (bNIIs): 68 lots (2,856 shares), totaling ₹10,05,312.
IPO Timeline:
- Open Date: October 23, 2024
- Close Date: October 25, 2024
- Allotment Finalisation: October 28, 2024
- Refund Initiation: October 29, 2024
- Listing on NSE and BSE: Tentative listing date is October 30, 2024.
Financials:
For Q1 FY25, Godavari Biorefineries posted a revenue of ₹525.27 crore, with a net loss of ₹26.11 crore. For FY24, its revenue fell by 16% to ₹1,686 crore, while profit declined 37% to ₹12.3 crore.
Key Competitors:
- Alkyl Amines Chemicals Limited
- Jubilant Ingrevia Limited
- Laxmi Organic Industries Limited
- EID Parry (India) Limited
- Triveni Engineering and Industries Limited
- Balrampur Chini Mills Limited
- Dalmia Bharat Sugar and Industries Limited
- Dhampur Sugar Mills Limited
- Dwarikesh Sugar Industries Limited
Purpose of the IPO:
The proceeds will be used to repay or prepay outstanding loans, and a portion will be allocated for general corporate purposes.
This IPO presents an opportunity to invest in one of India’s leading ethanol-based chemical manufacturers, with a diverse product portfolio and a strong research and development team.
