The initial public offer of Godavari Biorefineries Limited has opened today i.e. IPO on 23 October. Investors will be able to 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 wants to raise Rs 554.75 crore through this issue. For this, the company is issuing 9,232,955 fresh shares worth ₹325 crore. Whereas, the 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 planning to invest money in it, then 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 price band of this issue at ₹334-₹352. Retail investors can bid for a minimum of one lot i.e. 42 shares. If you apply for 1 lot as per the upper price band of IPO of ₹ 352, then you will have to invest ₹ 14,784.
At the same time, retail investors can apply for maximum 13 lots i.e. 546 shares. For this, investors will have to invest ₹ 192,192 as per the upper price band.
35% of the issue reserved for retail investors
The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, about 35% share is reserved for retail investors and the remaining 15% share is reserved for non-institutional investors (NII).
Godavari Biorefineries Limited established in 1956
Godavari Biorefineries, established in 1956, manufactures chemicals for ethanol. According to the data till June 2024, the company's capacity to produce ethanol is 570 kiloliters per day. The company's product portfolio includes bio-based chemicals, sugar, different types of ethanol, power.
They are used in industries like food, beverages, pharma, flavors and fragrances, power, fuel, personal care and cosmetics. Godavari Biorefineries has two manufacturing facilities and three R&D facilities.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
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