Bookbuilding IPO | ₹555 Cr | Listed at BSE, NSE | Wed, Oct 23, 2024 - Fri, Oct 25, 2024
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 per share. The lot size for an application is 42. The minimum amount of investment required by an retail is ₹14,784 (42 shares) (based on upper price). 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 Open
Wed, Oct 23, 2024
IPO Close
Fri, Oct 25, 2024
Issue Price
₹352 per share
Market Cap (Pre-IPO)
₹1,801.39 Cr
| IPO Date | 23 to 25 Oct, 2024 |
| Listed on | Wed, Oct 30, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹334 to ₹352 |
| Issue Price | ₹352 per share |
| Lot Size | 42 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,57,59,937 shares (agg. up to ₹555 Cr) |
| Fresh Issue | 92,32,954 shares (agg. up to ₹325 Cr) |
| Offer for Sale | 65,26,983 shares of ₹10 (agg. up to ₹230 Cr) |
| Share Holding Pre Issue | 4,19,43,023 shares |
| Share Holding Post Issue | 5,11,75,978 shares |
| BSE Script Code / NSE Symbol | 544279 / GODAVARIB |
| ISIN | INE497S01012 |
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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 42 shares and in multiples thereof.
| 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 |
Godavari Biorefineries IPO raises ₹166.42 crore from anchor investors. Godavari Biorefineries IPO Anchor bid date is October 22, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Oct 22, 2024 |
| Shares Offered | 47,27,980 |
| Anchor Portion (₹ Cr.) | 166.42 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Nov 26, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sat, Jan 25, 2025 |
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.
| 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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by our Company | 240.00 |
| 2 | General corporate purposes | 63.61 |
| KPI | Jun 30, 2024 |
|---|---|
| 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 (₹) | 2.93 | -ve |
| P/E (x) | 120.04 | -ve |
| Promoter Holding | 81.06% | 63.31% |
| Market Cap | ₹1,801.39 Cr. |
The Godavari Biorefineries IPO is subscribed 1.87 times on October 25, 2024 6:19:07 PM (Day 3). The public issue subscribed 1.76 times in the retail category, 2.76 times in the QIB category, and 0.93 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 2.76 | 31,51,989 | 86,89,212 |
| NII | 0.93 | 23,63,991 | 21,98,112 |
| bNII (bids above ₹10L) | 0.56 | 15,75,994 | 8,75,070 |
| sNII (bids below ₹10L) | 1.68 | 7,87,997 | 13,23,042 |
| Retail | 1.76 | 55,15,978 | 97,29,090 |
| Total | 1.87 | 1,10,31,958 | 2,06,16,414 |
Total Application : 2,02,779
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and commissions (including underwriting commission, brokerage and selling commission) | 19.19 |
| 2 | Commission/processing fee for SCSBs and Sponsor Banks. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 2.91 |
| 3 | Fees payable to the Registrar to the Offer | 0.10 |
| 4 | Advertising and marketing expenses | 4.11 |
| 5 | Others (i) Listing fees, SEBI, BSE and NSE processing fees, book building software fees and other regulatory expenses; (ii) Printing and stationery expenses; (iii) Fees payable to legal counsel; (iv) Fees payable to the Statutory Auditors; (v) Fees payable to industry service provider and practicing company secretary; and (vi) Miscellaneous | 10.67 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹352.00 | ₹352.00 |
| Open | ₹310.55 | ₹308.00 |
| Low | ₹308.05 | ₹308.00 |
| High | ₹354.00 | ₹354.45 |
| Last Trade | ₹342.85 | ₹343.20 |
Lead Manager Reports
Godavari Biorefineries IPO is a main-board IPO of 1,57,59,937 equity shares of the face value of ₹10 aggregating up to ₹555 Crores. The issue is priced at ₹352 per share. The minimum order quantity is 42.
The IPO opens on Wed, Oct 23, 2024, and closes on Fri, Oct 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 Wed, Oct 23, 2024 and closes on Fri, Oct 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 Tue, Oct 29, 2024. Check the Godavari Biorefineries IPO allotment status.
The Godavari Biorefineries IPO listing date is on Wed, Oct 30, 2024.
