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Godavari Biorefineries Floats IPO

Mahima Mehta by Mahima Mehta
June 20, 2024
in Asia, Latest News
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Godavari Biorefineries Floats IPO

Ethanol and bio-based chemical substances maker Godavari Biorefineries Ltd on Saturday filed preliminary papers with capital markets regulator Sebi to raise finances through a preliminary public offering (IPO).

The proposed initial share-sale is a mixture of fresh trouble of equity shares worth Rs 325 crore and an Offer-for-Sale (OFS) of 65.27 lakh fairness stocks by using promoters and an investor in step with the draft purple herring prospectus (DRHP).

Private equity firm Mandala Capital AG Ltd is offloading 49.27 lakh shares via the OFS route.

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Proceeds from the fresh problem to the music of Rs 240 crore can be used for debt charges and the closing amount for general company functions.

The Maharashtra-primarily based Godavari Biorefineries is one of the outstanding manufacturers of ethanol-based chemical compounds in India.

The agency’s various product portfolio accommodates bio-based chemical compounds, sugar, distinct grades of ethanol, and power. These products have applications in a variety of industries such as meals, drinks, prescription drugs, flavors & fragrances, electricity, gas, private care, and cosmetics.

According to the Frost & Sullivan Report, the bio-primarily based chemicals market has been growing exponentially due to the increasing want for environmentally sustainable answers. The market for bio-based chemical compounds in 2023 was valued at USD 97.2 billion and is predicted to be developing at a CAGR (compound annual boom charge) of 10.4 in step with cent, for the subsequent five years from 2023 to 2028.

SBI Capital Markets and Equirus Capital Markets are the e-book jogging lead managers of the general public trouble.

Source: https://economictimes.indiatimes.com/markets/ipos/fpos/ipo-calendar-6-new-issues-5-listings-to-keep-primary-market-busy-next-week/articleshow/107960291.cms?from=mdr
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Mahima Mehta

Mahima Mehta

Welcome to the insightful world of chemical knowledge! I'm Mahima Mehta, a seasoned content writer with a passion for all things chemical. With 15 years of experience in the industry, I've dedicated myself to bringing you the latest developments, in-depth analysis, and engaging narratives from the realm of chemistry.

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