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The archetypal nationalist connection of ethanol and bio-based chemicals shaper Godavari Biorefineries Ltd subscribed 54 per cent connected time 2 of bidding connected Thursday.
The archetypal stock merchantability received bids for 60,89,832 shares against 1,12,74,739 shares connected offer, arsenic per NSE data.
The information meant for retail idiosyncratic investors (RIIs) received 96 per cent subscription, portion the quota for non-institutional investors got subscribed 26 per cent.
Godavari Biorefineries Ltd connected Tuesday said it has raised implicit Rs 166 crore from anchor investors.
The archetypal stock merchantability is simply a operation of a caller contented of equity shares worthy Rs 325 crore and an offer-for-sale (OFS) of 65.27 lakh equity shares valued astatine Rs 230 crore astatine the precocious extremity of the terms set by promoters and an investor. This translates into the full IPO size of Rs 555 crore.
Private equity steadfast Mandala Capital AG Ltd is offloading 49.27 lakh shares done the OFS route.
The terms scope for the connection is Rs 334 to Rs 352 per share.
Proceeds from the caller contented to the tune of Rs 240 crore volition beryllium utilized for indebtedness outgo and the remaining magnitude for wide firm purposes.
Maharashtra-based Godavari Biorefineries is 1 of the salient manufacturers of ethanol-based chemicals successful India. The company's diversified merchandise portfolio comprises bio-based chemicals, sugar, antithetic grades of ethanol and power.
These products find exertion successful a scope of industries specified arsenic food, beverages, pharmaceuticals, flavours & fragrances, power, fuel, idiosyncratic attraction and cosmetics.
SBI Capital Markets and Equirus Capital are the book-running pb managers of the nationalist issue.
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