Godavari Biorefineries IPO Subscription Status

Godavari Biorefineries' initial public offering (IPO) has received modest investor interest over the two-day period. Starting cautiously on day one, the IPO witnessed gradual uptick in demand, resulting in a 0.49 times subscription by 2:17:10 PM on day two. This measured response indicates cautious investor sentiment towards Godavari Biorefineries' shares.

The IPO, which opened on 23rd October 2024, has seen varied participation across categories. The Retail Investors segment has shown moderate interest, while Non-Institutional Investors (NII) have shown limited participation. The Qualified Institutional Buyers (QIB) are yet to show significant interest.

This initial response to Godavari Biorefineries' IPO comes as the company seeks to establish its presence in the public markets, with its position as a manufacturer of ethanol-based chemicals being a key consideration for investors.

Subscription Status of Godavari Biorefineries IPO for Days 1 and 2:

Here are the subscription details for Godavari Biorefineries IPO as of Day 2 (24th October 2024, 2:17:10 PM):

Total Applications: 1,61,761

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights:

• Godavari Biorefineries IPO  is currently subscribed 1.49 times, with strong demand from QIB investors.
• Qualified Institutional Buyers (QIB) have shown strong interest, with a subscription ratio of 2.22 times.
• Retail investors have demonstrated good enthusiasm, with a subscription ratio of 1.48 times.
• Small Non-Institutional Investors (sNII) have shown solid interest with 1.14 times subscription.
• Large Non-Institutional Investors (bNII) have shown limited interest with 0.28 times subscription.
• The overall subscription trend shows steady improvement across the three-day period.

Godavari Biorefineries IPO - Day 2 Subscription at 0.56 Times

• Overall subscription reached 0.56 times, showing growing momentum from Day 1's 0.29 times.
• Retail investors demonstrated solid progress, achieving full subscription at 1.00 times compared to Day 1's 0.52 times.
• Non-Institutional Investors (NII) showed modest improvement, reaching 0.27 times from Day 1's 0.12 times.
• Small Non-Institutional Investors (sNII) portion received relatively better response compared to bNII category.
• Qualified Institutional Buyers (QIB) remained unsubscribed at 0.00 times.
• The subscription trend indicates building interest, particularly in the retail segment.
• Total number of applications continued to grow, reflecting increased investor participation.

Godavari Biorefineries IPO - Day 1 Subscription at 0.29 Times

Key Highlights:

• The IPO opened with a moderate overall subscription of 0.29 times.
• Retail investors showed initial interest with a subscription ratio of 0.52 times.
• Non-Institutional Investors (NII) demonstrated limited initial demand with 0.12 times subscription.
• Qualified Institutional Buyers (QIB) showed minimal participation with 0.00 times subscription.
• The first-day response indicated cautious investor sentiment towards the offering.

About Godavari Biorefineries Limited

Godavari Biorefineries Limited, incorporated in 1956, is a leading manufacturer of 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. The company is the largest producer of MPO in the world based on installed capacity and one of only two manufacturers of natural 1,3-butanediol, as well as the only company in India manufacturing bio ethyl acetate.

For the fiscal year 2024, Godavari Biorefineries recorded revenue of ₹1,701.06 crore, marking a -15.92% year-over-year change, and a Profit After Tax (PAT) of ₹12.30 crore. The company's net worth stood at ₹260.25 crore as of March 31, 2024. Key performance indicators include a Return on Equity (ROE) of -11.16%, a Return on Capital Employed (ROCE) of -2.35%, and a PAT Margin of -4.97%.

The company operates two manufacturing facilities located in Bagalkot, Karnataka, and Ahmednagar, Maharashtra. As of 30th June 2024, the company employs 1,583 permanent employees and serves customers in over twenty countries.

Read more about Godavari Biorefineries IPO

Highlights of the Godavari Biorefineries IPO

• IPO Date: 23rd October 2024 to 25th October 2024
• Listing Date: 30th October 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹334 to ₹352 per share
• Lot Size: 42 Shares
• Total Issue Size: 15,759,938 shares (aggregating up to ₹554.75 Cr)
• Fresh Issue: 9,232,955 shares (aggregating up to ₹325.00 Cr)
• Offer for Sale: 6,526,983 shares (aggregating up to ₹229.75 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: BSE, NSE
• Book Running Lead Managers: Equirus Capital Private Limited and SBI Capital Markets Limited
• Registrar: Link Intime India Private Ltd