Godavari Biorefineries Limited IPO Opens On October 23. Check IPO Details Issue Date Price

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Godavari Biorefineries Limited IPO Opens On October 23. Check IPO Details Issue Date Price

October 23, 2024
Godavari Biorefineries Limited IPO Opens On October 23. Check IPO Details Issue Date Price

Godavari Biorefineries Limited is coming out with an initial public offer to raise Rs. 554.75 crores from the market.

Below are the details of the Godavari Biorefineries Limited IPO:

  • Issue opens – October 23 (Wednesday)
  • Issue closes – October 25 (Friday)
  • Issue size – Rs. 554.75 crores
  • Price band – Rs. 334 to 352 per equity share
  • Bid lot – 42 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Godavari Biorefineries Limited are one of the manufacturers of ethanol based chemicals in India and they are an integrated bio-refinery in India with an installed capacity of 570 KLPD for manufacturing ethanol as at June 30, 2024. They are one of India’s largest producers of ethanol in terms of volume as of March 31, 2024 (source: Frost & Sullivan Report). As on March 31, 2024, they were also the largest manufacturer of MPO worldwide in terms of installed capacity, one of only two manufacturers of natural 1,3 butylene glycol and the only company in India to manufacture bio ethyl acetate. They have also set up India’s first bio-based EVE manufacturing facility in India as on March 31, 2024. (source: Frost & Sullivan Report).
  • They have diversified product portfolio comprises of bio-based chemicals, sugar, different grades of ethanol and power. These products find application in a range of industries such as food, beverages, pharmaceuticals, flavours & fragrances, power, fuel, personal care and cosmetics. According to the Frost & Sullivan Report, among the peers analysed in the Frost & Sullivan Report, their Company has the widest portfolio of bio-based products in India.
  • They utilise sugarcane as a feedstock to manufacture a wide range of products, including sugar, ethanol, bio-based chemicals and power and were among the first few companies in India to utilise sugarcane juice and syrup for the production of ethanol (source: Frost & Sullivan Report). They continuously strive to improve the valorisation of sugarcane through development of down-stream products and increase the diversion of sugarcane towards value added products. For instance, they have been successful in manufacturing a wide range of bio-based chemicals such as ethyl acetate, bio-ethyl acetate, MPO, 1,3 butylene glycol, crotonaldehyde, acetaldehyde, bio-acetic acid, butanol, EVE, and paraldehyde. They are also in the process of exploring the utilisation of grains to manufacture grain-based ethanol.
  • Their customers include marquee players such as Hershey India Pvt Ltd, Hindustan Coca-Cola Beverages Private Limited, M/s Karnataka Chemical Industries, M/s Techno Waxchem Pvt Ltd, LANXESS India Private Limited, IFF Inc., Ankit Raj Organo Chemicals Limited, Escorts Chemical Industries, Khushbu Dye Chem Pvt Ltd, Privi Speciality Chemicals Limited, Shivam Industries, as well as major oil marketing companies. Over the years, they have significantly expanded their scale of operations and global footprint, and during the three months ended June 30, 2024 and Fiscals 2024, 2023 and 2022, they have catered to customers from over 20 countries including Australia, China, Germany, France, Italy Japan, Kenya, Netherlands, Singapore, United Kingdom, United Arab Emirates, Indonesia and United States of America. They have also established offices in Hoofddorp (Netherlands) and Philadelphia (United States of America), which enables them to assess international demand and increase their customer outreach thereby bolstering their product development initiatives.

Issue Size: Rs. 554.75 crores

Issue break-up:

QIB – 50 % of the offer – Rs. 277.37 Cr.
NIB – 15 % of the offer – Rs. 83.21 Cr.
RET – 35 % of the offer – Rs. 194.16 Cr.

Listing: BSE & NSE

Registrar: Link Intime India Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Friday, October 25th, 2024.

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