Godavari Biorefineries IPO Hits 0.41x Subscription Rate on Day 2 as of 11:19 AM

The Godavari Biorefineries IPO, one of the upcoming IPOs in the market, opened for subscription on October 23, 2024, and will close tomorrow, October 25, 2024. The share 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.

Godavari Biorefineries 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.

Godavari Biorefineries IPO’s price band is set between ₹334 and ₹352 per share. The minimum lot size of 42 shares and 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 24, 2024, at 09:56 AM, the Godavari Biorefineries IPO GMP is ₹25.

Godavari Biorefineries IPO Subscription Status

• As of Day 1, October 23, 2024, Godavari Biorefineries IPO has been subscribed 0.29 times. The retail category was subscribed 0.52 times, 0.00 times for Qualified Institutional Buyers (QIB), and 0.12 times for Non-Institutional Investors (NII).
• As of Day 2, October 24, 2024, at 11:19 AM, Godavari Biorefineries IPO has been subscribed 0.41 times. The retail category was subscribed 0.74 times, 0.00 times for QIB, and 0.18 times for 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. The company offers a diverse product portfolio including bio-based chemicals, sugar, various grades of ethanol, and power.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.