Godavari Biorefineries IPO: The initial public offering (IPO) of Godavari Biorefineries, the ethanol-based chemicals manufacturer, received decent demand from investors amid volatility in the secondary market. Godavari Biorefineries IPO allotment has been fixed and the shares are likely to make their stock market debut on October 30.
Ahead of the share listing, investors now watch out for the trends in Godavari Biorefineries IPO grey market premium (GMP) to gauge the listing price. Godavari Biorefineries IPO was open from October 23 to 25 and the IPO allotment was finalised on October 28. Godavari Biorefineries IPO listing date is estimated to be October 30.
Let us take a look at Godavari Biorefineries IPO GMP today ahead of the listing:
Godavari Biorefineries IPO GMP Today
The trends in the grey market for Godavari Biorefineries shares remains muted. According to stock market observers, Godavari Biorefineries IPO GMP today is ₹5 per share. This indicates that in the grey market, Godavari Biorefineries shares are trading higher by ₹5 apiece than their issue price.
Given the Godavari Biorefineries IPO GMP today and the issue price, the estimated listing price of Godavari Biorefineries shares is ₹357 apiece, which is at a premium of 1.42% to the IPO price of ₹352 per share.
Godavari Biorefineries IPO Details
The bidding for Godavari Biorefineries IPO started on Wednesday, October 23, and ended on Friday, October 25. The IPO allotment has been finalised and the Godavari Biorefineries IPO listing is October 30. Godavari Biorefineries shares will be listed on both the stock exchanges, BSE and NSE.
Godavari Biorefineries IPO price band was set at ₹334 to ₹352 per share. The company raised ₹554.75 crore from the book-built issue at the upper-end of the price band. The public issue comprised a fresh issue of 92.32 lakh equity shares worth ₹325 crore and an offer-for-sale (OFS) component of 65.26 lakh shares amounting to ₹229.75 crore.
Godavari Biorefineries IPO has been subscribed 1.83 times in total. The public issue was subscribed 1.71 times in the retail category, 2.76 times in the Qualified Institutional Buyers (QIBs) category, and 0.90 times in the Non Institutional Investors (NII) category.
Equirus Capital and SBI Capital Markets are the book running lead managers of the Godavari Biorefineries IPO, while Link Intime India is the IPO registrar.
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