Godavari Biorefineries Ltd IPO

The largest integrated bio-refinery in the nation and the largest producer of ethanol in India are both owned by Godavari Biorefineries. Additionally, the business is one of only two producers of natural 1, 3-butylene glycol in the whole world. They are also the fourth-largest ethyl acetate producer in the nation. Godavari, which is a member of the Somaiya group of businesses, has been active in the sugar sector for the last 8 decades and has 6 decades of expertise there.

The business has two production plants, one each in Maharashtra and Karnataka. Reputable companies like Cipla, Biocon, Dr Reddy’s labs, Hershey India Pvt Ltd, and others are among the company’s clients. Twenty nations, including Australia, China, France, Germany, Italy, Japan, Kenya, the Netherlands, Nigeria, Singapore, Switzerland, the United Kingdom, United Arab Emirates, and the United States, are among its consumers. The firm has 41 international registrations and 13 patents for items and processes, according to the DRHP.

Godavri Biorefineries, an ethanol producer, submitted its DRHP to SEBI on September 24, 2021. A fresh issuance of Rs. 370 crores and an offer to sell up to 65,58,278 equity shares are included in this issue. Samir Shantilal Somaiya and Somaiya Agencies are selling 5 lakh equity shares each in the offer for sale, while Mandala Capital is selling 49.27 lakh equity shares, Filmedia Communication Systems is selling 3 lakh equity shares, Somaiya Properties and Investments is selling around 1.31 lakh equity shares, and Lakshmiwadi Mines and Minerals is selling 2 lakh equity shares.

The corporation is considering placing 100 crore rupees’ worth of pre-IPO shares. This will result in a reduction in the number of new issues. JM Financial Ltd. and Equirus Capital Private Ltd. are the book-running lead managers for the offering.