Godavari Biorefineries IPO opens for subscription: Check price band, lot size, key dates and all you need to know

Godavari Biorefineries IPO: The initial public offering of Godavari Biorefineries Ltd, a manufacturer of ethanol and bio-based chemicals, opened for subscription on Wednesday, October 23. The IPO, which has a price band of ₹334 to ₹352 per share, will conclude on Friday, October 25.

The ₹554.75 crore issue is a mix of fresh issuance of equity shares amounting to ₹325 crore and an offer-for-sale or OFS of 65.27 lakh shares worth ₹230 crore by promoters and an investor.

The money raised will be used to the tune of ₹240 crore to repay borrowings and the remaining to serve general corporate purposes.

Equirus Capital Markets and SBI Capital Markets are the issue's book-running lead managers.

Godavari Biorefineries IPO: Lot size

An investor can bid for a minimum of one lot size, consisting of 42 shares, valued at ₹14,028 and in multiples after that.

Half of the issue size has been set aside for qualified institutional buyers (QIBs), 35% for retail individual investors and 15% for non-institutional investors (NIIs).

Godavari Biorefineries IPO: Allotment and listing date

• Subscription dates: October 23 to October 25
• Allotment finalisation: October 28
• Refund initiation: October 29
• Demat transfer: October 29
• Listing on NSE and BSE: October 30

Godavari Biorefineries IPO: About the company

Maharashtra-based Godavari Biorefineries is among the prominent manufacturers of ethanol-based chemicals in India. The company's product portfolio includes ethyl acetate, MPO, 1,3 butylene glycol, bio-ethyl acetate, crotonaldehyde, bio-acetic acid and acetaldehyde.

These products are used in various sectors, such as food, beverages, flavours and fragrances, pharmaceuticals, fuel, personal care, power, and cosmetics.

The firm also markets and distributes products such as sugar, salt, jaggery, and turmeric under the brand name Jivana through retail stores and online channels.