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Godavari Biorefineries IPO is a book build issue of ₹554.75 crores. The issue is a combination of fresh issue of 0.92 crore shares aggregating to ₹325.00 crores and offer for sale of 0.65 crore shares aggregating to ₹229.75 crores.
Godavari Biorefineries IPO bidding started from Oct 23, 2024 and ended on Oct 25, 2024. The allotment for Godavari Biorefineries IPO was finalized on Oct 28, 2024. The shares got listed on BSE, NSE on Oct 30, 2024.
Godavari Biorefineries IPO price band is set at ₹352.00 per share . The lot size for an application is 42. The minimum amount of investment required by an retail is ₹14,028 (42 shares). The lot size investment for sNII is 14 lots (588 shares), amounting to ₹2,06,976, and for bNII, it is 68 lots (2,856 shares), amounting to ₹10,05,312.
Equirus Capital Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Godavari Biorefineries IPO RHP for detailed Information.
| IPO Date | October 23, 2024 to October 25, 2024 |
| Listing Date | October 30, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹334 to ₹352 per share |
| Issue Price Final | ₹352 per share |
| Lot Size | 42 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,57,59,937 shares (aggregating up to ₹554.75 Cr) |
| Fresh Issue | 92,32,954 shares (aggregating up to ₹325.00 Cr) |
| Offer for Sale | 65,26,983 shares of ₹10 (aggregating up to ₹229.75 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,19,43,023 shares |
| Share Holding Post Issue | 5,11,75,978 shares |
Godavari Biorefineries IPO offers total 1,57,59,937 shares. Out of which 78,79,968 (50.00%) allocated to QIB, 31,51,988 (20.00%) allocated to QIB, 23,63,991 (15.00%) allocated to NII, 55,15,978 (35.00%) allocated to RII and 47,27,980 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 78,79,968 (50.00%) | NA |
| − Anchor Investor Shares Offered | 47,27,980 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 31,51,988 (20.00%) | NA |
| NII (HNI) Shares Offered | 23,63,991 (15.00%) | NA |
| − bNII > ₹10L | 15,75,994 (10.00%) | 2,680 |
| − sNII < ₹10L | 7,87,997 (5.00%) | 1,340 |
| Retail Shares Offered | 55,15,978 (35.00%) | 1,31,332 |
| Total Shares Offered | 1,57,59,937 (100.00%) |
Godavari Biorefineries IPO raises ₹166.42 crore from anchor investors. Godavari Biorefineries IPO Anchor bid date is October 22, 2024. Godavari Biorefineries IPO Anchor Investors list
| Bid Date | October 22, 2024 |
| Shares Offered | 47,27,980 |
| Anchor Portion Size (In Cr.) | 166.42 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 26, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 25, 2025 |
Godavari Biorefineries IPO opens on October 23, 2024, and closes on October 25, 2024.
| IPO Open Date | Wed, Oct 23, 2024 |
| IPO Close Date | Fri, Oct 25, 2024 |
| Tentative Allotment | Mon, Oct 28, 2024 |
| Initiation of Refunds | Tue, Oct 29, 2024 |
| Credit of Shares to Demat | Tue, Oct 29, 2024 |
| Tentative Listing Date | Wed, Oct 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Oct 25, 2024 |
Investors can bid for a minimum of 42 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 42 | ₹14,784 |
| Retail (Max) | 13 | 546 | ₹1,92,192 |
| S-HNI (Min) | 14 | 588 | ₹2,06,976 |
| S-HNI (Max) | 67 | 2,814 | ₹9,90,528 |
| B-HNI (Min) | 68 | 2,856 | ₹10,05,312 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1956, Godavari Biorefineries Limited manufactures ethanol-based chemicals in India. As of June 30, 2024, the company operates an integrated biorefinery with a capacity of 570 KLPD for ethanol production.
As on March 31, 2024, the company is the largest producer of MPO in the world based on installed capacity. It is one of only two manufacturers of natural 1,3-butanediol and the only company in India that makes bio ethyl acetate.
The company's product portfolio includes bio-based chemicals, sugar, various grades of ethanol, and power. These products are used in industries such as food, beverages, pharmaceuticals, flavours and fragrances, power, fuel, personal care, and cosmetics
The company has three research and development facilities registered with the Department of Scientific and Industrial Research (DSIR): one at the Sakarwadi Manufacturing Facility, one at the Sameerwadi Manufacturing Facility, and one in Navi Mumbai, Maharashtra. As of June 30, 2024, the company employs 52 permanent research staff, including eight scientists with doctoral degrees.
As of October 2024, the company has obtained 18 patents and received 53 registrations for these products/processes across various countries.
The company's client base includes marquee players such as Hershey India Pvt Ltd, Hindustan Coca-Cola Beverages Private Limited, M/s Karnataka Chemical Industries, M/s Techno Waxchem Pvt Ltd, LANXESS India Private Limited, IFF Inc., Ankit Raj Organo Chemicals Limited, Escorts Chemical Industries, Khushbu Dye Chem Pvt Ltd, Privi Speciality Chemicals Limited, Shivam Industries, and major oil marketing companies.
The company serves customers in over twenty countries, including Australia, China, Germany, France, Italy, Japan, Kenya, the Netherlands, Singapore, the United Kingdom, the United Arab Emirates, Indonesia, and the United States.
The company operates two manufacturing facilities, one in Bagalkot, Karnataka, and the other in Ahmednagar, Maharashtra.
As of June 30, 2024, the company has 1,583 permanent employees, out of which 437 employees are semiskilled and unskilled.
Godavari Biorefineries Limited's revenue decreased by -15.92% and profit after tax (PAT) dropped by -37.37% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 1,554.62 | 1,991.66 | 1,743.52 | 1,733.54 |
| Total Income | 525.27 | 1,701.06 | 2,023.08 | 1,709.98 |
| Profit After Tax | -26.11 | 12.30 | 19.64 | 19.10 |
| Net Worth | 233.84 | 260.25 | 249.01 | 232.57 |
| Reserves and Surplus | 432.34 | 458.74 | 447.51 | 431.06 |
| Total Borrowing | 703.75 | 663.27 | 738.01 | 636.72 |
| Amount in ₹ Crore | ||||
The market capitalization of Godavari Biorefineries IPO is ₹1801.39 Cr.
KPI as of Sun, Jun 30, 2024.
| KPI | Values |
|---|---|
| ROE | -11.16% |
| ROCE | -2.35% |
| Debt/Equity | 3.01 |
| RoNW | -11.16% |
| PAT Margin | -4.97% |
| Price to Book Value | 6.31 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 2.93 | -20.40 |
| P/E (x) | 120.04 | -17.25 |
[Dilip Davda] The company is the largest manufacturer of MPO worldwide and is engaged in ethanol based speciality chemicals. It suffered a setback in FY23 and FY24 following government banning ethanol production and the natural calamities during that periods. Though prima facie the IPO appears aggressively priced, considering the improved prospects following liberalized norms for ethanol production and increased ratio of around 20 for blending, the company is poised for bright prospects. Well-informed/cash surplus/risk seekers may park moderate funds for long term. Read detail review...
| Listing Date | October 30, 2024 |
| BSE Script Code | 544279 |
| NSE Symbol | GODAVARIB |
| ISIN | INE497S01012 |
| Final Issue Price | ₹352 per share |
| NSE Listing Group | EQ |
| BSE Listing Group | B |
Godavari Biorefineries Ltd.
Somaiya Bhavan,
45/47, M.G. Road
Fort, Mumbai - 400001
Fort, Maharashtra
Phone: +91 22 6170 2177
Email: investors@somaiya.com
Website: https://www.godavaribiorefineries.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: godavari.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Godavari Biorefineries IPO is a main-board IPO of 1,57,59,937 equity shares of the face value of ₹10 aggregating up to ₹554.75 Crores. The issue is priced at ₹352 per share. The minimum order quantity is 42.
The IPO opens on October 23, 2024, and closes on October 25, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Godavari Biorefineries IPO using UPI as a payment gateway. Zerodha customers can apply in Godavari Biorefineries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Godavari Biorefineries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Godavari Biorefineries IPO opens on October 23, 2024 and closes on October 25, 2024.
Godavari Biorefineries IPO lot size is 42, and the minimum amount required for application is ₹14,784.
You can apply in Godavari Biorefineries IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Godavari Biorefineries IPO will be done on Monday, October 28, 2024, and the allotted shares will be credited to your demat account by Tuesday, October 29, 2024. Check the Godavari Biorefineries IPO allotment status.
The Godavari Biorefineries IPO listing date is on Wednesday, October 30, 2024.
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