Godavari Biorefineries Ltd (NSE: GODAVARIB): In the last few months, many such stocks have been listed in the stock market, which has had strong listing gains, but Godavari Biorefineries Ltd had a weak listing in the market.
On 30 October 2024, Godavari Biorefineries Ltd IPO had a weak start and was listed on NSE with a decline of 12.5%.
Madhuri Madhusudan Kela, wife of star investor Madhusudan Kela, has bought a stake in ethanol manufacturing company Godavari Biorefineries Ltd. Godavari Biorefineries IPO came recently, which was listed at a low price.
The star investor bought more than 5,00,000 equity shares of Godavari Biorefineries Limited for Rs 335.66. The share of Godavari Biorefineries Ltd was trading at Rs 347.65 on Tuesday.
Godavari Biorefineries Limited is one of the top producers of ethanol. It is also one of the leading players in the manufacture of chemical compounds based on ethanol in India.
Its extensive product line includes bio-based chemicals such as sugar, rectified spirit, ethanol, and various types of alcohol as well as power.
Godavari Biorefineries Limited IPO
The IPO of Godavari Biorefineries Limited came to the market last month, under which about Rs 554.75 crore was raised.
In this issue, 0.92 crore new shares were issued, raising a total of Rs 325.00 crore, and 0.65 crore shares were offered for sale, raising a total of Rs 229.75 crore.
The price band for Godavari Biorefineries Ltd IPO has been set at 334 rupees to 352 rupees for each share. One lot size is comprised of 42 shares.
According to the documents, the net proceeds of Rs 240 crore from the new issue will be used to repay the loan and the remaining amount will be used for general corporate purposes.
Godavari Biorefineries Limited IPO Listing
On October 30, the stock in the Godavari Biorefineries Limited IPO debuted on the market, with a sluggish response. The share was traded by the NSE for 308 rupees. It was a price that was 12.5 % over the price at which they were issued, 352 rupees.
The share of Godavari Biorefineries Limited has not given any significant returns since listing. The stock is trading at Rs 347 as against the issue price of Rs 352.
Quick Fact
| Company name | Godavari Biorefineries |
|---|---|
| Sector | Ethanol, Chemicals |
| IPO date | 30 October 2024 |
| IPO amount raised | ₹554.75 crore |
| New shares issued | 0.92 crore |
| Amount from new shares | ₹325 crore |
| Shares offered for sale | 0.65 crore |
| Amount from shares for sale | ₹229.75 crore |
| Price band per share | ₹334 – ₹352 |
| Lot size | 42 shares |
| Listing price | ₹308 |
| Lasting performance | -12.5% |
| Stock trading price | ₹347 |
| Major shareholder | Madhuri Madhusudan Kela |
| Shares bought | Over 5,00,000 |
| The purchase price per share | ₹335.66 |
| Funds for loan repayment | ₹240 crore |
| Remaining funds usage | General corporate purposes |
| Core products | Ethanol, bio-chemicals, sugar, power |
| Status post-listing | Low returns |
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