Godavari Biorefineries IPO Opens Today: Key Details You Need to Know
The much-awaited Godavari Biorefineries IPO opened for public subscription today, and it’s generating buzz in the stock market. The company, known for its strong presence in ethanol-based chemical manufacturing, aims to raise Rs 554.75 crore through a combination of a fresh issue and an offer for sale. Here's a breakdown of the key details for investors.
IPO Overview:
- Total Size: Rs 554.75 crore
- Price Band: Rs 334-352 per share
- Lot Size: 42 shares (minimum bid amount of Rs 14,784 for retail investors)
- Anchor Investment: Godavari Biorefineries has already raised Rs 166.42 crore from anchor investors, signaling positive initial interest.
Subscription Details:
The IPO window will be open for three days, concluding on Friday, October 25, 2024. Once closed, the basis of allotment will be finalized by October 28, with shares credited to demat accounts on October 29. The company is expected to make its market debut on October 30, 2024, listed on both the BSE and NSE.
Why Should You Invest?
Godavari Biorefineries operates the largest integrated bio-refinery in India, focusing on sustainability and producing a range of bio-based products, such as sugar, ethanol, and chemicals. While this is an attractive prospect for eco-conscious investors, Swastika Investmart has issued a neutral rating, citing high debt levels and challenging financial conditions.
Brokerage View:
While the liberalisation of ethanol production could benefit the company, analysts recommend cautious investment. Investors with a long-term outlook and tolerance for risk may consider subscribing, but it's important to weigh the high IPO valuation and debt burden.
Reference from :-https://www.business-standard.com/markets/news/godavari-biorefineries-ipo-opens-today-key-details-gmp-brokerage-views-124102300104_1.html