Godavari Biorefineries IPO Sees 0.71x Subscription Rate on Day 3 as of 11:37 AM

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

The share allotment for the Godavari Biorefineries IPO is anticipated to be finalised on Monday, October 28, 2024. The shares will be listed on both the BSE and NSE and the expected date is Wednesday, October 30, 2024.

This IPO is a book-built issue valued at ₹554.75 crores, comprising 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.

The price band for the Godavari Biorefineries IPO is set between ₹334 and ₹352 per share, with a minimum lot size of 42 shares, requiring retail investors to invest at least ₹14,784.

The company plans to use the net proceeds from the fresh issue to repay or prepay certain outstanding borrowings, either in full or in part, and for general corporate purposes.

As of October 25, 2024, at 10:59 AM, the Godavari Biorefineries IPO’s GMP is ₹15.

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, Godavari Biorefineries IPO has been subscribed 0.56 times. The retail category was subscribed 1.00 times, 0.00 times for QIB, and 0.27 times for NII.
• As of Day 3, October 25, 2024, at 11:37 AM, Godavari Biorefineries IPO has been subscribed 0.71 times. The retail category was subscribed 1.27 times, 0.00 times for QIB, and 0.37 times for NII.

About Godavari Biorefineries Limited

Godavari Biorefineries is amongst the leading manufacturers of ethanol-based chemicals in India and operates as an integrated bio-refinery. The company provides a comprehensive product portfolio, such as sugar, bio-based chemicals, 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.