IPO

Godawari Biorefineries Limited IPO

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Diversified FMCG

Listed On: Oct 30, 2024 at ₹ 308.0(NSE)

₹ 14784 /42 Shares

Check Allotment

23 Oct, 2024

Open Date

25 Oct, 2024

Close Date

28 Oct, 2024

Allotment Date

30 Oct, 2024

Listing Date
Price Summary

Last Closing

269.50 (-23.44%)

52 Week High

408.60

52 Week Low

145.00

Last Update

4-Nov-2025 3:30 PM
Godawari Biorefineries IPO Issue Details
  • Issue Price ₹334-352 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 1,57,59,938 shares(aggregating up to ₹554.75 crore)
  • Fresh Share 92,32,955 shares(aggregating up to ₹325 crore)
  • Offer For Sale 65,26,983 shares(aggregating up to ₹229.75 crore)
  • Listing at BSE, NSE
  • List Price 308.0(NSE)
  • Listing Date 2024-10-30
  • Lead Manager Equirus Capital Private Limited
    SBI Capital Markets Limited
  • Registrar Link Intime India Private Ltd
Market Lot Size

Investors can bid for a minimum of 42 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min) 142₹14,784
Retail(max)13546₹1,92,192
Godawari Biorefineries IPO Reservation

Godawari Biorefineries IPO offers total 1,57,59,938 shares. Out of which 31,51,989 (20%) allocated to QIB, 23,63,991 (15%) allocated to NII,55,15,978 (35%) allocated to RII, NA (NA%) allocated to employees and 47,27,980 (30%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered47,27,980 (30%)
QIB Shares Offered31,51,989 (20%)
NII (HNI) Shares Offered23,63,991 (15%)
bNII < ₹10L15,75,994 (10%)
sNII < ₹10L7,87,997 (5%)
Retail Shares Offered55,15,978 (35%)
Total Shares Offered1,57,59,938 (100%)
Godawari Biorefineries IPO Documents
DRHP
RHP
ANCHOR
Godawari Biorefineries IPO Details


Godawari Biorefineries IPO is a book-built issue of ₹554.75 crores, The total issue size is ₹554.75 crores. The IPO of Godawari Biorefineries is priced at ₹334-352 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Oct 23, 2024 and ends on Oct 25, 2024. The allotment for Godawari Biorefineries IPO will be finalized on Oct 28, 2024. Godawari Biorefineries IPO will be listed on BSE, NSE, with a tentative listing date fixed as Oct 30, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 42 shares, extendable to 14,784. The book-running lead manager for the IPO is/are Equirus Capital Private Limited, SBI Capital Markets Limited.

The total issue ₹554.75 crore, comprising a fresh issue of 92,32,955 shares ₹325 crore and having Offer for Sale (OFS) of 65,26,983 shares to mop up ₹229.75 crore.

The Godawari Biorefineries IPO sets its price band at 334-352 for each share. A single application for Godawari Biorefineries Limited IPO must contain at least 42 shares. Sentiment investors need to invest a minimum of 42 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,784

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Godawari Biorefineries IPO Subscription Analysis And Details
Retail
1.70x
QIB
2.76x
NII
0.90x
bNII
0.54x
sNII
1.62x
Total
1.83x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved3,151,9892,363,991
1,575,994    787,997		5,515,97811,031,958
Day 1 23-10-24 05:00 PM
0.00 x0.12
0.06 x   0.25 x		0.52 x0.29 x
Day 2 24-10-24 05:00 PM
0.00 x0.26
0.11 x   0.55 x		0.96 x0.54 x
Day 3 25-10-24 05:00 PM
2.76 x0.90
0.54 x   1.62 x		1.70 x1.83 x
Total No of Applications
2,01,750
Subscription on the basis of Applications
Retail:1.53x BHNI:0.08x SHNI:1.49x
Godawari Biorefineries Valuations
EPS Pre IPO ₹2.93/-
EPS Post IPO -₹20.40/-
P/E Pre IPO 120.04
P/E Post IPO -17.25
ROE -11.16%
ROCE -2.35%
Debt/Equity 3.01
RoNW -11.16%
PAT Margin -4.97
Price to Book Value 6.31
Godawari Biorefineries Company Financials
In Crs.
In Cr.
31-Mar-2431-Mar-2331-Mar-22
Assets1,991.661,743.521,733.54
Revenue1,701.062,023.081,709.98
Profit After Tax12.3019.6419.10
Net Worth260.25249.01232.57
Reserves & Surplus458.74447.51431.06
Total Borrowing663.27738.01636.72
About Godawari Biorefineries Company

Godavari Biorefineries Limited incorporated in 1956 is India's leader in the production of chemicals based on ethanol. The company emphasizes continuous innovation towards a sustainable future and houses one of India's most sophisticated integrated biorefineries, with a 570 KLPD ethanol production capacity as of June 30, 2024.

Worldwide Leader in Bio-based Innovation:World's largest manufacturer of MPO based on installed capacity as of March 31, 2024
One of only two manufacturers worldwide of natural 1,3-Butanediol.
India's only manufacturer of bio-ethyl acetate, giving it a niche in the market.

Diverse Product Profile : Godavari Biorefineries Limited operates on an extensive product profile. Its products include:Bio-based chemicals,Sugar and various types of ethanol,Generation of electricity

It is used by various industries, such as:
Food & Beverages
Pharmaceuticals
Flavours and Fragrances
Personal Care & Cosmetics
Power and Fuel
Adherence to Research & Innovation

Three research and development establishments, registered with DSIR, located at:
Sakarwadi Manufacturing Facility
Sameerwadi Manufacturing Facility
Navi Mumbai, Maharashtra

Godavari Biorefineries Limited has 52 permanent research staff, of which 8 are PhD-holding scientists. The company has so far registered 53 product and process registrations in different countries. It currently has 18 patents, as of October 2024.

International footprint & Elite Customer Base:Godavari Biorefineries Limited serves customers over 20+ countries including Australia, China, Germany, France, Italy, Japan, Kenya, United States, and others.

Major Customers:
Hershey India Pvt Ltd
Hindustan Coca-Cola Beverages Pvt Ltd
LANXESS India Pvt Ltd
IFF Inc.
Escorts Chemical Industries
M/s Karnataka Chemical Industries

Company has its operations in two prime manufacturing locations:
Bagalkot, Karnataka
Ahmednagar, Maharashtra
Talented Workforce

Godavari Biorefineries Limited has 1,583 permanent employees as on 30 June, 2024, consisting of 437 semiskilled and unskilled workers, who ensure that the activities carry out the works process and, therefore, the output quality.

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Godawari Biorefineries - Promoter(s)

Samir Shantilal Somaiya

Lakshmiwadi Mines and Minerals Private Limited

Somaiya Agencies Private Limited

Pre Issue Share Holding : 81.06%

Post Issue Share Holding : 63.31%

Godawari Biorefineries IPO - Issue Objectives
1

Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by our Company

2

General corporate purposes.

Godawari Biorefineries IPO - Anchor Investors

Godavari Biorefineries mops up over Rs 166 crore in anchor book.

ICICI Prudential Mutual Fund, HDFC Mutual Fund, Whiteoak Capital Mutual Fund and 360 ONE Equity Opportunity Fund were the biggest anchor investors in the anchor book, buying 5.35 lakh shares worth Rs 18.85 Crore each.

Goldman Sachs, 3P India Equity Fund, Chartered Finance & Leasing (backed by ace investor Madhusudan Kela), Franklin India, Bandhan Small Cap Fund, Edelweiss, Troo Capital, SBI General Insurance Company, and Buoyant Capital AIF invested 2.55 lakh shares worth nearly Rs 9 crore each.

Godawari Biorefineries IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Godavari Biorefineries Limited2.932.9362.05N/A4.73N/AConsolidated
Alkyl Amines Chemicals Ltd.29.1329.09247.8778.8411.75N/AConsolidated
Jubilant Ingrevia Limited11.5611.55171.8664.16.682.63Consolidated
Laxmi Organic Industries Limited4.464.4365.1865.116.713.61Consolidated
EID Parry (India) Limited50.6850.61397.6116.6912.75N/AConsolidated
Triveni Engineering & Industries Ltd.18.0518.05132.5226.0613.622.34Consolidated
Balrampur Chini Mills Ltd.26.4926.49168.5724.7215.72N/AConsolidated
Dalmia Bharat Sugar And Industries Ltd33.6633.66362.2715.839.290.94Consolidated
Dhampur Sugar Mills Ltd.20.2720.27168.2811.212.211.24Consolidated
Dwarikesh Sugar Industries Ltd.4.444.4443.6617.310.161.59Consolidated

Notes:

  1. Basic EPS and diluted EPS refer to the basic EPS and diluted EPS sourced from the financial statements of the respective company.
  2. P/E ratio has been computed based on the closing market price of equity shares on BSE on September 27, 2024 divided by the diluted EPS provided.
  3. Return on net worth (RoNW) is computed as profit for the year attributable to common shareholders of the parent divided by net worth (excluding non-controlling interest), as at March 31, 2024.
  4. NAV per equity share has been computed as the net worth attributable to common shareholders (excluding non-controlling interest) divided by the total number of shares outstanding as of March 31, 2024.
Strength
Leading Indian ethanol producer with 380 KLPD capacity.
Expanding rectified spirits and ethanol production for fuel blending.
Plans for second-generation ethanol and speciality chemicals production.
Weakness
Heavy reliance on sugarcane and molasses for production.
Susceptible to seasonal changes, adverse weather, and crop diseases.
Government ethanol policy changes could reduce revenue.
Contact Details

Godawari Biorefineries

Somaiya Bhavan, 45/47, M.G. Road, Fort, Mumbai - 400001

+91 22 6170 2177

investors@somaiya.com

https://www.godavaribiorefineries.com/

Registrar Contact Details

Link Intime India Private Ltd

+91-22-4918 6270

godavari.ipo@linkintime.co.in

https://linkintime.co.in/initial_offer/public-issues.html