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godavari-biorefineries-ipo

Godavari Biorefineries IPO

  • Status: Closed
  • RHP:
  • ₹ 14,028 / 42 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    30 Oct 2024

  • Listing Price

    ₹310.55

  • Listing Change

    -11.78%

  • Last Traded Price

    ₹369.85

IPO Details

  • Open Date

    23 Oct 2024

  • Close Date

    25 Oct 2024

  • IPO Price Range

    ₹ 334 to ₹ 352

  • IPO Size

    ₹ 554.75 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    30 Oct 2024

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IPO Timeline

Godavari Biorefineries IPO Subscription Status

Last Updated: 25 October 2024 6:40 PM by 5Paisa

Godavari Biorefineries IPO is set to open on 23 October 2024 and will close on 25 October 2024. Godavari Biorefineries is a manufacturer of ethanol based chemicals in India. As of 30 June 2024, the company has an integrated biorefinery that produces ethanol at a capacity of 570 kiloliters per day (KLPD).

The IPO is a combination of a fresh issue of 0.92 Cr shares aggregating to ₹325 Cr and offer for sale of 0.65 Cr shares aggregating to ₹229.75 Cr. The price range is set between ₹334 to ₹352 per share and the lot size is 42 shares. 

The allotment is scheduled to be finalized on 28 October 2024. It will go public on BSE, NSE, with a tentative listing date of 30 October 2024.

Equirus Capital Private Limited and SBI Capital Markets Limited are the book running lead managers, while Link Intime India Private Ltd is the registrar. 

Godavari Biorefineries IPO Size

Types Size
Total IPO Size ₹554.75 Cr
Offer For Sale ₹229.75 Cr
Fresh Issue ₹325.00 Cr

 

Godavari Biorefineries IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 42 ₹14,784
Retail (Max) 13 546 ₹192,192
S-HNI (Min) 14 588 ₹206,976
S-HNI (Max) 67 2,814 ₹990,528
B-HNI (Min) 68 2,856 ₹1,005,312

 

Godavari Biorefineries IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
QIB 2.76     31,51,989 86,89,212 305.860
NII (HNI) 0.93 23,63,991 21,98,112 77.374
Retail 1.76 55,15,978     97,30,014 342.496
Total 1.87 1,10,31,958 2,06,17,338 725.730

 

Godavari Biorefineries IPO Anchor Allocation

Anchor Bid Date 22 October 2024
Shares Offered 4,727,980
Anchor portion Size (In ₹ Cr.) 166.42
Anchor lock-in period end date for 50% shares (30 Days) 27 November 2024
Anchor lock-in period end date for remaining shares (90 Days) 26 January 2025

1. Repayment or prepayment of specific borrowings   
2. General corporate purposes 
 

Godavari Biorefineries established in 1956, specializes in manufacturing ethanol based chemicals in India. As of 30 June 2024, the company operates an integrated biorefinery with a capacity of 570 KLPD for ethanol production.

It is the largest global producer of MPO (Methyl Propyl Oleate) based on installed capacity and one of only two manufacturers of natural 1,3-butanediol. Additionally, it is the only company in India producing bio ethyl acetate.

The company’s product range includes bio based chemicals, sugar, various grades of ethanol and power. These products are used in several industries including food and beverages, pharmaceuticals, flavors and fragrances, power, fuel, personal care and cosmetics.

Godavari Biorefineries has three research and development facilities registered with the Department of Scientific and Industrial Research (DSIR) in India. They employ 52 permanent research staff including eight scientists with doctoral degrees. The company has obtained 18 patents and 53 registrations for its products and processes in various countries.

The company serves a wide range of clients including well known brands like Hershey India, Hindustan Coca Cola and LANXESS India. Its products are sold in over twenty countries such as Australia, China, Germany, France, Japan and the United States.

Godavari Biorefineries has two manufacturing plants, one in Bagalkot, Karnataka and another in Ahmednagar, Maharashtra. As of June 30, 2024, the company employs 1,583 permanent workers including 437 in semiskilled and unskilled positions.

Peers

Alkyl Amines Chemicals Ltd.    
Jubilant Ingrevia Limited    
Laxmi Organic Industries Limited    
EID Parry (India) Limited    
Triveni Engineering & Industries Ltd.    
Balrampur Chini Mills Ltd.    
Dalmia Bharat Sugar And Industries Ltd    
Dhampur Sugar Mills Ltd.    
Dwarikesh Sugar Industries Ltd.    
 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY24 FY23 FY22
Revenue 1,701.06 2,023.08 1,709.98
EBITDA 147.94 154.62 140.53
PAT 12.30 19.64 19.10
Particulars (in Rs. Crores) FY24 FY23 FY22
Total Assets 1,991.66 1,743.52 1,733.54
Share Capital 41.94 41.94 41.94
Total Borrowings 663.27 738.01 636.72
Particulars (in Rs. Crores) FY24 FY23 FY22
Net Cash Generated From / (used in) operating activities 185.67 196.96 44.86
Net Cash Generated From / (used in) investing activities -44.49 -214.14 -47.67
Net Cash Generated From / (used in) financing activities -151.34 28.43 5.95
Net Increase (Decrease) In Cash And Cash Equivalents  -10.16 11.25  3.14


Strengths

1. The company offers a wide range of products including bio based chemicals, ethanol, sugar and power, catering to various industries like food, beverages, pharmaceuticals, personal care and cosmetics. This diversification reduces dependency on a single product or market.

2. Godavari Biorefineries is a leading manufacturer of ethanol based chemicals and the largest producer of MPO globally. With an integrated biorefinery and a significant ethanol production capacity of 570 KLPD, it holds a dominant position in the industry.

3. With three research facilities registered under DSIR and 52 research staff including eight PhDs, Godavari Biorefineries has robust R&D capabilities. This has resulted in 18 patents and 53 product/process registrations, giving the company an edge in innovation and sustainability.
 

Risks

1. The company's client base though diverse includes marquee players. A significant dependency on a few large customers like Hindustan Coca Cola and LANXESS, poses the risk of revenue loss if any key client scales down or ends contracts.

3. Godavari Biorefineries exports to over 20 countries, making it vulnerable to geopolitical uncertainties, market demand fluctuations and regulatory changes in regions like Europe, China and US which could impact sales.

4. The company’s operations and growth demand capital particularly for maintaining and upgrading its manufacturing facilities. Any challenges in meeting working capital needs could adversely affect business performance.
 

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FAQs

Godavari Biorefineries IPO opens from 23 October to 25 October 2024.

The size of Godavari Biorefineries IPO is ₹554.75 Cr.

The price of Godavari Biorefineries IPO is fixed at ₹334 to ₹352 per share. 

To apply for Godavari Biorefineries IPO, follow the steps given below:

●  Login to your 5paisa account and select the issue in the current IPO section    
●  Enter the number of lots and the price at which you wish to apply for the Godavari Biorefineries IPO.    
●  Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.
 

The minimum lot size of Godavari BiorefineriesIPO is 42 shares and the investment required is ₹14028.

The share allotment date of Godavari Biorefineries IPO is 28 October 2024

The Godavari Biorefineries IPO will be listed on 30 October 2024.

Equirus Capital Private Limited and SBI Capital Markets Limited are the book running lead managers for Godavari Biorefineries IPO.
 

1. Repayment or prepayment of specific borrowings   
2. General corporate purposes