The initial public offer i.e. IPO of Godavari Biorefineries Limited will open on October 23. Investors can bid for this issue till October 25. The company's shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 30.
The company intends to raise Rs 554.75 crore through this issue. For this the company is issuing 9,232,955 new shares worth ₹325 crore. Whereas, existing investors of the company are selling 6,526,983 shares worth ₹ 229.75 crore through Offer for Sale i.e. OFS.
If you are also thinking of investing money in it, we are telling you how much you can invest in it.
What is the minimum and maximum amount that can be invested?
Godavari Biorefineries Limited has fixed the issue price band at ₹334-₹352. Retail investors can bid for a minimum of one lot i.e. 42 shares. If you apply for 1 lot at the IPO's upper price band of ₹352, you have to invest ₹14,784.
At the same time retail investors can apply for a maximum of 13 lots i.e. 546 shares. For this, investors have to invest ₹192,192 as per the upper price band.
35% of the issue is reserved for retail investors
The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, around 35% shares are reserved for retail investors and the remaining 15% shares are reserved for non-institutional investors (NIIs).
Godavari Biorefineries Limited was established in 1956
Godavari Biorefineries, established in 1956, produces chemicals for ethanol. According to data till June 2024, the company's ethanol production capacity is 570 kiloliters per day. The company's product portfolio includes bio-based chemicals, sugar, various types of ethanol, power.
It is used in industries such as food, beverages, pharma, flavors and fragrances, power, fuel, personal care and cosmetics. Godavari Biorefinery has two manufacturing facilities and three R&D facilities.
What is an IPO?
When a company releases its shares to the general public for the first time, it is called an initial public offering or IPO. A company needs money to grow its business. In such a situation, the company raises money by selling some shares to the public or by issuing new shares instead of borrowing from the market. For this the company brings IPO.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
