October 30, 2024
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Godavari Biorefineries IPO GMP grey market premium, review, Subscription, allotment, listing estimate @ Chanakyanipothi.com
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What is the latest news relating to Godavari Biorefineries IPO?
In absence of grey market activity, the IPO received unimpressive response and now on 30th October 2024, the scrip was listed at Rs. 308, discount of 12.08% over the issue price. However, the company has strong business model and profitability and hence the shares may be retained as long-term investment or accumulated at this low price.
What is the latest GMP of Godavari Biorefineries IPO?
Godavari Biorefineries IPO Subscription Status
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Godavari Biorefineries IPO Subscriptions Price Rs. 352 Lot 42 shares, Rs. 554.75 Crore |
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| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| 2.76 | 0.56 | 1.68 | 0.93 | 1.76 | 1.87 |
| Applications: 2,02,779 / (1.54x) Amount wise Bids recd. Rs. ? Crore |
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Godavari Bio IPO Allotment Link:
We will provide allotment link, once the allotment is finalised.
Who is the promoter of Godavari Biorefineries IPO?
SAMIR SHANTILAL SOMAIYA, LAKSHMIWADI MINES AND MINERALS PRIVATE LIMITED, SAKARWADI TRADING COMPANY PRIVATE LIMITED AND SOMAIYA AGENCIES PRIVATE LIMITED
What are the Objects of Godavari Biorefineries IPO?
The Offer comprises of fresh issue of shares and also an Offer for Sale by the Selling Shareholders.
The Company intends to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company; and
- General corporate purposes.
A Note on the business of Godavari Biorefineries?
Godavari Biorefineries Limited: Leading Ethanol-Based Chemical Manufacturer in India
Founded in 1956, Godavari Biorefineries Limited is a pioneer in the production of ethanol-based chemicals in India. As of June 30, 2024, the company operates a state-of-the-art integrated biorefinery with an impressive capacity of 570 KLPD for ethanol production.
Global Leadership in MPO Production
As of March 31, 2024, Godavari Biorefineries has established itself as the largest producer of Mono Propylene Glycol (MPO) in the world based on installed capacity. The company stands out as one of only two manufacturers globally of natural 1,3-butanediol and is the sole producer of bio ethyl acetate in India.
Diverse Product Portfolio
Godavari Biorefineries boasts a comprehensive product portfolio that includes bio-based chemicals, sugar, various grades of ethanol, and power. These products serve critical industries such as food and beverages, pharmaceuticals, flavors and fragrances, energy, fuel, personal care, and cosmetics.
Research and Development Excellence
The company is committed to innovation with three registered research and development facilities under the Department of Scientific and Industrial Research (DSIR). Located at the Sakarwadi and Sameerwadi Manufacturing Facilities, as well as in Navi Mumbai, Maharashtra, these facilities employ a dedicated team of 52 permanent research staff, including 8 PhD-level scientists.
Intellectual Property and Innovation
As of October 2024, Godavari Biorefineries has secured 18 patents and received 53 product/process registrations across various countries, underscoring its commitment to research and development.
Robust Clientele
The company proudly serves a diverse clientele that includes industry leaders such as Hershey India Pvt Ltd, Hindustan Coca-Cola Beverages Private Limited, Karnataka Chemical Industries, Techno Waxchem Pvt Ltd, LANXESS India Private Limited, IFF Inc., Ankit Raj Organo Chemicals Limited, and many others. Godavari Biorefineries caters to customers in over twenty countries, including Australia, China, Germany, France, Italy, Japan, Kenya, the Netherlands, Singapore, the UK, the UAE, Indonesia, and the US.
Manufacturing Facilities
The company operates two manufacturing facilities strategically located in Bagalkot, Karnataka, and Ahmednagar, Maharashtra, ensuring efficient production and distribution.
Employee Commitment
As of June 30, 2024, Godavari Biorefineries employs 1,583 permanent staff members, including 437 semi-skilled and unskilled workers, demonstrating its commitment to providing employment and supporting local communities. By focusing on these key aspects, Godavari Biorefineries Limited continues to strengthen its position as a leader in the ethanol-based chemicals sector, driving innovation and sustainability in the industry.
For more information, click https://www.godavaribiorefineries.com/
Godavari Biorefineries IPO GMP grey market premium, review, Subscription, allotment, listing estimate
Godavari Biorefineries IPO Details |
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| IPO opens on | 23 October 2024 |
| IPO closes on | 25 October 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 15,759,938 Shares / Rs 554.75 Crore |
| * Fresh Issue | 9232955 Sh /Rs 325 Cr |
| * Offer for Sale | 65,26,983 shares/ Rs.229.75 Crore |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 334-352 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 42 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Godavari ? | Shares | Rs. in Crore |
| QIB (50 %) net | 31,45,977 | 110.74 |
| NII (15 %) | 24,38,629 | 85.84 |
| RII (35 %) | 56,90,133 | 200.29 |
| Employees | – | – |
| Total Shares | 11274739 | 396.87 |
| Retail portion oversubscribed by | 135479 Forms. | |
| How to apply in Hyundai Motor India IPO? |
Amount Rs. |
|
| Min Retail Appli | 42 Shares | 14784 |
| Max Retail Appli | 546 Shares | 192192 |
| Small HNI (Min) application | 588 Shares | 206976 |
| Small HNI (Max) application | 2814 Shares | 990528 |
| Big HNI Application | 2856 Shares | 1005312 |
What is the timetable of Godavari Biorefineries IPO? |
|
| IPO opens on | 23 October 2024 |
| IPO Closes on | 25 October 2024 |
| IPO Allotment on | 28 October 2024 |
| Unblocking of ASBA | 29 October 2024 |
| Credit of Shares | 29 October 2024 |
| Listing on | 30 October 2024 |
| Registered Office of Godavari Biorefineries | |
| Godavari Biorefineries Limited Somaiya Bhavan, 45/47, M.G. Road Fort, Mumbai – 400001 |
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| Who are the Lead Managers of Godavari Biorefineries IPO? Equirus Capital Private Limited SBI Capital Markets Limited |
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| Registrar to IPO | |
| Link Intime India Pvt ltd |
Godavari Biorefineries IPO Financial & Analytical Ratios |
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| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2021-22 | 1710 | 19 | ||
| 2022-23 | 2023 | 20 | ||
| 2023-24 | 1701 | 12 | 11.16 | |
| Book Value of the Share on 31.03.2024 |
Rs. | |||
| BV after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 352 | ||
| Godavari Biorefineries IPO Ratio Analysis |
|
| Price /EPS | ? |
| Price/Book Value Ratio | ? |
| Price/BV after IPO | ? |
How Godavari Biorefineries IPO compares with the Peers?
Peer Comparison.
| Company Name | P/E (x) | RoNW (%) |
| Godavari Biorefineries Limited | 4.73 | |
| Alkyl Amines Chemicals Ltd. | 78.84 | 11.75 |
| Jubilant Ingrevia Limited | 64.1 | 6.68 |
| Laxmi Organic Industries Limited | 65.11 | 6.71 |
| EID Parry (India) Limited | 16.69 | 12.75 |
| Triveni Engineering & Industries Ltd. | 26.06 | 13.62 |
| Balrampur Chini Mills Ltd. | 24.72 | 15.72 |
| Dalmia Bharat Sugar And Industries Ltd | 15.83 | 9.29 |
| Dhampur Sugar Mills Ltd. | 11.2 | 12.21 |
| Dwarikesh Sugar Industries Ltd. | 17.3 | 10.16 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Godavari Biorefineries IPO Review
Godavari Biorefineries Limited is a pioneer in the production of ethanol-based chemicals in India. As of June 30, 2024, the company operates a state-of-the-art integrated biorefinery with an impressive capacity of 570 KLPD for ethanol production.
As of March 31, 2024, Godavari Biorefineries has established itself as the largest producer of Mono Propylene Glycol (MPO) in the world based on installed capacity. The company stands out as one of only two manufacturers globally of natural 1,3-butanediol and is the sole producer of bio ethyl acetate in India
The net size of the is only Rs. 396.87 crore. HNI portion and retail portion may get oversubscribed very smoothly.
Because of wide product-range, experienced and well qualified promoters, strong balance sheet and good profit record makes this IPO very attractive. In absence of the grey market premium at present, the listing gains are expected to be small however in the long term e.g. 9 months, these shares are expected to offer impressive returns. Apply.
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