Godavari Biorefineries
Book Building issueMainboardNSE₹555 Cr issue
-11.78%
Listing gain over issue price
Issue size
₹555 Cr
1 lot at cut-off
₹14,784
Lot size
42shares
Open
23 Oct 2024
Close
25 Oct 2024
Allotment
28 Oct 2024
Listing
30 Oct 2024
Listing performance
Issue price
₹352
Listed at
₹310.55
Listing-day close
₹343.20
Latest price
₹205.63
Close on 23 Oct 2026
Listing gain
-11.78%
Return since issue
-41.58%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 23 Oct 2024 – 25 Oct 2024
- Listing date
- 30 Oct 2024
- Face value
- ₹10 per share
- Issue price
- ₹352 per share
- Lot size
- 42 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹555 Cr
- Market cap at offer price
- ₹1,801 Cr
- Promoter holding
- 81.06% → 63.31% pre-issue → post-issue
- ISIN
- INE497S01012
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Equirus Capital Ltd.
- Registered office
- Somaiya Bhavan, 45/47, M.G. Road, Fort, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 47,27,980 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 42 shares per lot, in multiples, at ₹352
| 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 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
47,27,980
Anchor portion
₹166 Cr
at ₹352 per share
Valuation and performance
Valuation at offer price
₹352 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 2.93 | −20.40 |
| P/E (×) | 120.14 | — |
| Price to book (×) | 6.31 | — |
| Market cap | — | ₹1,801 Cr |
No price-to-earnings multiple is shown: the company reported a loss, and an earnings multiple struck on negative earnings would read as a cheap valuation while meaning the opposite.
Key performance indicators
Latest reported period
- Return on net worth
- −11.16%
- ROCE
- −2.35%
- Debt / equity
- 3.01
- PAT margin
- −4.97%
- NAV per share
- ₹55.75
- Price to book
- 6.31
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Godavari Biorefineries
Godavari Biorefineries Limited is a diversified biorefinery company that manufactures ethanol-based bio-chemicals, sugar, various grades of ethanol, and power. Originally incorporated as Godavari Investment and Finance Corporation Limited in 1956, the company changed its name to Godavari Biorefineries Limited in 2006. The company operates multiple manufacturing segments: bio-based chemicals (including ethyl acetate, 1,3 butylene glycol, crotonaldehyde, and others), sugar production, distillery operations, and cogeneration. It is one of India's largest ethanol producers by volume as of March 31, 2024. The company generates revenue through the sale of these products to diverse industries and sells consumer products under its retail brand 'Jivana'. Operations are seasonal due to sugarcane availability.
Company Analysis
from RHPGodavari Biorefineries Limited is one of India's largest producers of ethanol and a manufacturer of bio-based chemicals, sugar, distillery products, and power across food, beverages, pharmaceuticals, flavours & fragrances, fuel, personal care and cosmetics industries.
Godavari Biorefineries Limited is a diversified biorefinery company that manufactures ethanol-based bio-chemicals, sugar, various grades of ethanol, and power. Originally incorporated as Godavari Investment and Finance Corporation Limited in 1956, the company changed its name to Godavari Biorefineries Limited in 2006. The company operates multiple manufacturing segments: bio-based chemicals (including ethyl acetate, 1,3 butylene glycol, crotonaldehyde, and others), sugar production, distillery operations, and cogeneration. It is one of India's largest ethanol producers by volume as of March 31, 2024. The company generates revenue through the sale of these products to diverse industries and sells consumer products under its retail brand 'Jivana'. Operations are seasonal due to sugarcane availability.
Bio-based chemicalsSugar productionDistillery/Ethanol productionCogeneration/Power generationFood and beveragesPharmaceuticalsFlavours and fragrancesFuel (Ethanol Blended Petrol)Personal care and cosmeticsChemical manufacturing
Objects of the Issue
- Repayment/pre-payment, in full or in part, of certain borrowings availed by our Company ₹2,400 million p.18
- General corporate purposes p.18
- Not specified in this document section p.80
- Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by our Company ₹2,400 million p.110
- General corporate purposes p.110
Issue Structure
- Total Issue
- Up to [●] Equity Shares aggregating up to ₹ [●] million
- Fresh Issue
- Up to [●] Equity Shares aggregating up to ₹3,250 million
- Offer for Sale
- Up to 6,526,983 Equity Shares aggregating up to ₹ [●] million
- Price Band
- [●] per Equity Share (Floor Price) to [●] per Equity Share (Cap Price)
- Lot Size
- [●] Equity Shares
- Face Value
- ₹10 each
Business Model
Revenue is generated through four primary segments: (1) Sugar segment - production and sale of refined and brown sugar from sugarcane; (2) Bio-based Chemicals segment - manufacture and sale of specialty chemicals derived from ethanol and other feedstocks; (3) Distillery segment - production of ethanol in various grades, including sale under the Government of India's Ethanol Blended Petrol Programme; and (4) Cogeneration segment - power generation from bagasse for captive consumption and external sale. The company also sells consumer products under the 'Jivana' brand. In Fiscal 2024, segment revenue contributions were: Sugar (33.42%), Bio-based Chemicals (29.97%), Distillery (33.30%), and Cogeneration (2.54%).
Business Segments
Production and sale of refined sugar, brown sugar, molasses and other by-products from sugarcane crushing operations
Manufacture and sale of specialty biochemicals including ethyl acetate, bio-ethyl acetate, MPO (3-Methyl-3-Penten-2-One), 1,3 butylene glycol, crotonaldehyde, acetaldehyde, bio-acetic acid, butanol, EVE (Ethyl Vinyl Ethers), and paraldehyde
Production of ethanol in various grades including extra-neutral alcohol (ENA), denatured ethyl alcohol, and ethanol for fuel blending under the Government of India's Ethanol Blended Petrol Programme
Generation of electrical power from bagasse (sugarcane waste) for captive consumption and external sale to the grid
Production and sale of sugar from sugarcane crushing operations
Production of ethanol for the Ethanol Blended Petrol (EBP) Program and co-generation of power
Manufacturing of bio-based chemicals at the Sakarwadi Manufacturing Facility
Production and sale of crystalline sugar from sugarcane crushing, including branded Jivana brand consumer sugar products
Generation of power from bagasse (sugarcane residue) combustion and sale of excess power to external parties
Production of ethanol from molasses and sale to end-use customers
Production and sale of ethanol-derived specialty chemicals including ethyl acetate, ethyl vinyl ether, 1,3-butylene glycol, acetic acid and related intermediates for use in personal care, pharmaceuticals, paints, coatings and other applications
Manufactures ethanol-based chemicals including ethyl acetate, bio-ethyl acetate, MPO, 1,3 butylene glycol, crotonaldehyde, acetaldehyde, bio-acetic acid, butanol, EVE, and paraldehyde, which find applications in personal care & cosmetics, flavour and fragrance, food, fuel, paints & coatings and pharmaceutical industries
Manufactures rectified spirits and converts them to various grades of ethanol including fuel ethanol, pharma-grade ethanol and extra neutral alcohol, sold to oil marketing companies and industries including beverages, pharmaceuticals and chemicals
Manufactures sugar from sugarcane, with customers including large companies in Indian food and beverages industry; also exports sugar and sells packaged sugar under own brand 'Jivana'
Generates power at the Sameerwadi Manufacturing Facility utilizing bagasse (a by-product of sugarcane crushing); power generated is used to meet internal requirements and excess is sold to the grid
Manufacturing and sale of sugar
Manufacturing of rectified spirits, fuel ethanol, and denatured and rectified spirit
Manufacturing of acetic acid, ethyl acetate, acetaldehyde, crotonaldehyde, MPO, 1,3-butylene glycol, paraldehyde, and other bio-based chemicals
Generating electricity and energy through conventional and renewable sources
Sugar production and sales
Power generation
Manufacture of Ethyl Acetate, 3-Methyl-3-Pentene-2-One, 1,3 Butylene Glycol, Crotonaldehyde
Ethanol production
Production and sale of raw sugar, refined sugar (white), molasses, jaggery, and salt under the 'Jivana' brand. The Sameerwadi Manufacturing Facility has a crushing capacity of 18,000 TCD as of June 30, 2024.
Production of rectified spirits, ethanol (fuel ethanol, pharma grade ethanol, extra neutral alcohol) with an installed capacity of 600 KLPD as at June 30, 2024. The company intends to expand distillery capacity to 1,000 KLPD and proposes to commence manufacturing of 2nd generation ethanol from bagasse.
Manufacturing of ethanol-based chemicals including ethyl acetate, bio-ethyl acetate, MPO, 1,3 butylene glycol, crotonaldehyde, acetaldehyde, bio-acetic acid, butanol, EVE, and paraldehyde. Applications include personal care and cosmetics, flavour and fragrance, food, fuel, paints and coatings, and pharmaceutical industries.
Generation and sale of power. Power plants with an aggregate installed capacity of 45.56 MW at the Sameerwadi Manufacturing Facility. The company uses spent wash from distillery operations to generate steam.
SWOT Analysis
Strengths
- • One of India's largest ethanol producers by volume(p.18)
- • Diversified product portfolio across multiple industries(p.18)
- • Multiple quality certifications and accreditations(p.50)
- • USDA biobased product certification(p.50)
- • Long-term leases for key manufacturing facilities(p.49)
- • Established R&D infrastructure with dedicated facilities(p.51)
- • Qualified research personnel with advanced credentials(p.51)
- • Diversified product portfolio across multiple business segments(p.54)
- • In-house power generation capability reducing operational costs(p.57)
- • Strong brand recognition through Somaiya trademark licensing(p.57)
- • Significant intellectual property portfolio(p.68)
- • One of India's largest ethanol producers by volume(p.120)
- • Integrated biorefinery with significant ethanol production capacity(p.120)
- • Diversified product portfolio and established customer relationships(p.120)
- • In-house R&D capabilities(p.120)
- • Experienced promoter with group backing(p.120)
- • Top-tier sugar mill complex ranking(p.148)
- • Market leadership in bio-based chemicals(p.148)
- • Sustainability certification(p.148)
- • Leading ethanol producer and integrated biorefinery with diversified product portfolio(p.194)
- • Unique global market position in MPO manufacturing and natural 1,3-BG production(p.194)
- • Widest portfolio of bio-based products among peers in India(p.194)
- • Strong farmer relationships and sugarcane sourcing advantage(p.199)
- • Flexibility in sugar vs. ethanol production through juice/syrup diversion(p.198)
- • Diversified and marquee customer base across geographies(p.199)
- • Established R&D capabilities with 52 permanent research employees including 8 doctorates(p.201)
- • Membership in Somaiya group with experienced leadership(p.202)
- • Diversified integrated business across sugar, chemicals, distillery, and power generation(p.278)
- • Multiple manufacturing facilities with recent environmental clearances for capacity expansion(p.233)
- • Strong track record of ISO and international certifications for quality and sustainability(p.233)
- • Recognized for manufacturing excellence and environmental responsibility through multiple industry awards(p.233)
- • Diversified product portfolio across sugar, power, chemicals, and distillery segments(p.283)
- • Established manufacturing capacity with significant property, plant and equipment(p.288)
- • Strong revenue generation across multiple geographies(p.327)
- • Concentrated shareholder base with substantial promoter holdings(p.300)
- • Largest ethanol producer in India by volume with integrated biorefinery capacity(p.337)
- • Widest portfolio of bio-based products among peers in India(p.337)
- • Strong R&D capabilities with 18 patents and significant research workforce(p.338)
- • Strong relationships with high-quality customers including marquee players(p.338)
- • Global presence with offices in Netherlands and USA enabling international demand assessment(p.338)
- • Top 15 sugar mill in India by crushing capacity with strong farmer relationships(p.338)
- • Multiple environmental certifications and awards demonstrating operational excellence(p.339)
Weaknesses
- • High dependence on few raw material suppliers(p.36)
- • Material costs constitute majority of expenses(p.38)
- • High revenue concentration from few customers(p.39)
- • No long-term contracts with key customers(p.38)
- • Dependence on third-party manufacturers for Jivana brand products(p.42)
- • Significant unsecured borrowings that can be recalled anytime(p.45)
- • High debt-to-equity ratio(p.46)
- • Outstanding litigation involving company and promoter(p.41)
- • Dependence on non-exclusive trademark licensing from promoter group(p.57)
- • Significant outstanding indebtedness constraining financial flexibility(p.51)
- • Restrictive covenants limiting operational and financial decisions(p.52)
- • Loss-making subsidiary impacting consolidated profitability(p.71)
- • Historical delays in payment of statutory dues(p.54)
- • Untraceable historical corporate records creating legal uncertainty(p.48)
- • Low R&D spending relative to total expenses(p.51)
- • High debt-to-equity ratio relative to industry peers(p.123)
- • Declining profitability with negative Q1 FY2025 results(p.123)
- • Negative return on equity in recent period(p.123)
- • Concentrated shareholding with promoter dominance(p.104)
- • High working capital requirements(p.123)
- • Negative EBITDA in recent quarter and low capacity utilization(p.196)
- • Dependence on limited number of suppliers for raw materials(p.32)
- • High leverage with significant borrowings(p.205)
- • Delays in payment of statutory dues(p.216)
- • Concentration of revenue in top customers(p.200)
- • Dependence on third-party manufacturers for Jivana brand products(p.208)
- • Significant debt burden with borrowings of ₹6,937.03 million (current and non-current)(p.273)
- • Loss of ₹261.06 million in three-month period ended June 30, 2024(p.274)
- • Dependence on leased premises for registered office and certain manufacturing facility portions(p.249)
- • Significant decrease in inventories and changes in working capital affecting operations(p.273)
- • High debt burden with significant borrowing levels(p.304)
- • Substantial contingent tax liabilities from multiple disputed assessments(p.319)
- • High accumulated losses from income tax disputes(p.286)
- • Ongoing litigation and regulatory proceedings creating uncertainty(p.319)
- • Significant provision made against contingencies and environmental remediation obligations(p.319)
- • Deferred tax assets not fully recognized due to uncertainty of future profitability(p.298)
- • Concentrated customer base with top 5 customers generating significant revenue portion(p.341)
- • Significant dependence on limited suppliers for imported raw materials(p.371)
- • High financial leverage with debt-to-equity ratio of 3.01 as at June 30, 2024(p.366)
- • Recent loss in operations with negative EBITDA for Q1 FY2025(p.365)
- • Concentration of revenue in few products with sugar, ethyl acetate, ethanol and MPO representing majority(p.341)
- • Ongoing litigation regarding income tax assessment with significant addition demands(p.369)
- • Environmental remediation obligations and ground water contamination liability(p.381)
- • Outstanding environmental compliance orders from National Green Tribunal(p.381)
- • Significant pending tax claims against company(p.382)
- • Material creditor concentration(p.386)
- • Pending criminal proceedings for workplace safety incident(p.381)
- • Litigation with supplier over failed supply obligations(p.382)
Opportunities
- • Growing bio-based chemicals market globally(p.18)
- • Government policy to increase ethanol blending to 20% by 2025(p.47)
- • Government financial incentives for 2G ethanol production(p.47)
- • Expansion in bio-based chemicals market with growing global demand(p.68)
- • International expansion leveraging existing export infrastructure(p.60)
- • New product development in pharmaceutical and biotech sectors(p.69)
- • Capital expenditure reduction creating efficiency opportunities(p.55)
- • Diversification into adjacent chemical segments leveraging existing capabilities(p.54)
- • Rapidly growing global bio-based chemicals market(p.146)
- • Strong ethyl acetate market growth in India(p.156)
- • Growing demand for bio-based and green chemicals(p.150)
- • Rising personal care market expansion(p.139)
- • India positioning as manufacturing hub shifting from China(p.141)
- • Government policy support for specialty chemicals(p.141)
- • Natural 1,3-BG market with only two global producers(p.163)
- • Renewable feedstock availability advantage(p.141)
- • Rapid growth in Indian ethanol market with government support(p.197)
- • Government mandate to increase ethanol blending to 20% by 2025-26(p.169)
- • Strong growth in 1,3-BG market driven by natural product demand(p.165)
- • Planned expansion of distillery capacity(p.203)
- • Bio-acetic acid market at emerging phase in India with 8% CAGR(p.192)
- • Growing Indian cellulose market at 7.5% CAGR(p.204)
- • Expansion into grain-based ethanol production(p.204)
- • Government initiatives and policies supporting bio-based chemicals(p.168)
- • Expansion of ethanol production capacity to 600 KLPD utilizing sugarcane syrup(p.233)
- • Development of specialty chemicals including cellulose, EVE, lignosulphonate and bio-composites(p.233)
- • Government support for renewable and bioenergy through recognition of biofuel projects(p.233)
- • Opportunity to commercialize cancer molecules through SathGen biotech initiative(p.236)
- • Development of bio-based chemicals and pharmaceutical products(p.291)
- • Growth in bio-refinery segment with green chemicals and sustainable products(p.311)
- • Expansion through capital expenditure and capacity enhancement projects(p.319)
- • Government target of 20% ethanol blending by FY 2025-26 with capacity expansion potential(p.340)
- • Planned distillery capacity expansion from 600 KLPD to 1,000 KLPD with environmental clearance(p.338)
- • 2G ethanol production from bagasse with government financial assistance up to ₹150 million(p.338)
- • Environmental clearance for crushing capacity expansion up to 25,000 TCD(p.338)
- • Environmental clearance for specialty chemicals expansion including cellulose derivatives(p.338)
- • High growth in branded 'Jivana' product line with 72.49% CAGR from FY2022 to FY2024(p.339)
- • Exploration of grain-based ethanol manufacturing as new feedstock opportunity(p.337)
- • International market expansion potential with presence in over 20 countries(p.338)
Threats
- • Supply disruption risks from foreign suppliers(p.37)
- • Seasonal dependency on sugarcane availability and weather(p.45)
- • Government policy changes affecting ethanol production and pricing(p.47)
- • Price controls on sugar and sugarcane procurement(p.47)
- • Government restrictions on sugar exports(p.48)
- • Ethanol pricing dependent on government mandates(p.48)
- • Government restrictions on ethanol production from sugarcane juice(p.59)
- • Export restrictions on sugar impacting revenue(p.59)
- • Seasonal dependence on sugarcane crop vulnerable to weather(p.59)
- • Historical flooding disruptions at manufacturing locations(p.54)
- • Exposure to foreign exchange fluctuations on exports(p.61)
- • International trade barriers and tariffs on exported products(p.60)
- • Supply chain disruptions from international conflicts(p.60)
- • Competition from larger multinational companies with greater resources(p.67)
- • Volatile crude oil prices impacting bio-based chemicals competitiveness(p.151)
- • Feedstock supply and pricing volatility(p.151)
- • Climate change affecting agricultural output(p.151)
- • Sugarcane crushing seasonality dependency(p.123)
- • Global slowdown in developed markets(p.137)
- • Competition from larger global chemical manufacturers(p.159)
- • Low awareness and adoption challenges for bio-based products(p.150)
- • Regulatory restrictions on certain chemicals(p.150)
- • Volatile sugarcane prices and agricultural dependence(p.226)
- • Competition from larger players with greater resources(p.216)
- • Regulatory constraints on ethanol production from sugarcane juice(p.170)
- • Cyclical nature of sugar industry affecting feedstock economics(p.169)
- • Commodity price volatility for raw materials(p.213)
- • Stringent environmental and food safety regulations(p.212)
- • Government price controls on ethanol and pharmaceuticals(p.225)
- • High demand for bio-based products attracting new entrants(p.199)
- • Government restrictions on sugar export requiring prior permission from DFPD(p.226)
- • Government power to regulate sugar production, restrict sales, movement and quality(p.226)
- • Government authority to fix maximum prices for molasses(p.226)
- • Stringent environmental regulations requiring compliance across multiple laws and authorization(p.227)
- • Extensive labour and safety compliance requirements across multiple codes and regulations(p.228)
- • Exposure to regulatory and tax disputes across multiple jurisdictions(p.319)
- • Volatile commodity prices for sugar, ethanol and chemical products(p.311)
- • Dependence on agricultural inputs and seasonal variations in cane supply(p.312)
- • Environmental compliance obligations and National Green Tribunal directives(p.319)
- • Interest rate risk from significant floating rate debt obligations(p.305)
- • Government restrictions on sugar export limiting revenue opportunities(p.341)
- • Dependence on ethanol blending program with policy changes causing production disruptions(p.340)
- • Sugarcane availability dependent on fluctuating rainfall and weather conditions(p.340)
- • Price volatility in sugar market and government-fixed sugarcane procurement prices(p.342)
- • Foreign exchange risk exposure with significant import dependence(p.341)
- • Environmental litigation and bioremediation obligations with extended timelines(p.368)
- • Multiple pending tax and regulatory disputes with significant contingent liabilities(p.367)
- • Restrictions on secured borrowings limiting operational flexibility(p.367)
- • Regulatory challenge to electricity cross-subsidy charges and license validity(p.383)
- • Challenge to industrial alcohol licensing requirements under state law(p.383)
- • Challenge to electricity regulatory framework and licenses(p.383)
- • Environmental pollution allegations and ongoing remediation requirements(p.381)
- • Promoter litigation involving alleged property fraud(p.384)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Samir Shantilal Somaiya | Individual Promoter | 14.36% | — |
| Lakshmiwadi Mines and Minerals Private Limited | Corporate Promoter | 13.64% | — |
| Sakarwadi Trading Company Private Limited | Corporate Promoter | 14.34% | — |
| Somaiya Agencies Private Limited | Corporate Promoter | 22.30% | — |
| Somaiya Agencies Private Limited | Promoter Group | — | — |
| Samir Shantilal Somaiya | Individual Promoter | — | — |
| K J Somaiya and Sons Private Limited | Promoter Group | — | — |
| Somaiya Agencies Private Limited | Promoter | 22.30% | — |
| Sakarwadi Trading Company Private Limited | Promoter | 14.34% | — |
| Lakshmiwadi Mines and Minerals Private Limited | Promoter | 13.64% | — |
| Samir Shantilal Somaiya | Promoter | 14.36% | — |
| Sindhur Construction Pvt Ltd | Promoter Group | 6.99% | — |
| Zenith Commercial Agencies Pvt. Ltd. | Promoter Group | 2.22% | — |
| Filmedia Communication Systems Private Limited | Promoter Group | 1.85% | — |
| Jasmine Trading Company Private Limited | Promoter Group | 1.47% | — |
| K J Somaiya and Sons Private Limited | Promoter Group | 1.42% | — |
| Samir Shantilal Somaiya | Individual Promoter | — | — |
| Samir Shantilal Somaiya | Individual Promoter | — | — |
| Lakshmiwadi Mines and Minerals Private Limited | Corporate Promoter | — | — |
| Sakarwadi Trading Company Private Limited | Corporate Promoter | — | — |
| Somaiya Agencies Private Limited | Corporate Promoter | — | — |
| Samir Shantilal Somaiya | Promoter/Chairman and Managing Director | — | — |
Leadership
Samir Shantilal Somaiya · Chairman and Managing Director
Sangeeta Arunkumar Srivastava · Executive Director
Bhalachandra Raghavendra Bakshi · Executive Director
Suhas Uttam Godage · Executive Director
Naresh Sitaram Khetan · Chief Financial Officer
Manoj Jain · Company Secretary and Compliance Officer
Swarna Gunware · Joint Company Secretary
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Godavari Biorefineries IPO FAQs
What is the lot size of Godavari Biorefineries IPO?
The minimum lot size of Godavari Biorefineries IPO is 42 shares. One lot costs ₹14,784 at the cut-off price.
When does Godavari Biorefineries IPO open and close?
Godavari Biorefineries IPO opened for subscription on 23 Oct 2024 and closed on 25 Oct 2024.
What is the listing date of Godavari Biorefineries IPO?
Godavari Biorefineries IPO listed on 30 Oct 2024.