Mumbai: Godavari Biorefineries Ltd shares made a weak debut on Wednesday by listing with a discount of 12.5 per cent against the issue price of Rs 352. The shares of ethanol and bio-based chemicals maker made its BSE debut with a decline of 11.77 per cent from the issue price at Rs 310.55. It further slipped 12.48 per cent to Rs 308.05. At the NSE, the shares got listed at Rs 308, down 12.5 per cent. The company’s market valuation was recorded at Rs 1,750.47 crore.
According to investorgain.com, Godavari Biorefineries IPO GMP stood at Rs 5 at around 9 am on October 30. With the price band of Rs 352, Godavari Biorefineries shares were expected to be listed with over 1 per cent gains at at Rs 357 apiece. The Godavari Biorefineries Ltd IPO got subscribed 1.83 times on the last day of bidding on Friday.
Godavari Biorefineries IPO, a book built issue of Rs 554.75 crore, was opened for subscription on from October 23, 2024 to 25th October. The Godavari Biorefineries IPO allotment was finalised on October 28. The IPO price band was fixed in the rage of Rs 334 to Rs 352 per share. The retail investors were mandated to apply for a minimum lot size of 42 shares with an investment of Rs 14,784. For NII category, the minimum lot size was 14 lots, amounting to Rs 206,976, while bNII, it category investors were required to apply for 68 lots, amounting to Rs 1,005,312.
Godavari Biorefineries IPO raised Rs 166.42 crore from anchor investors. The company is one of the largest producers of ethanol and manufactures ethanol-based chemicals in India. It is also engaged in the business of bio-based chemicals, sugar, rectified spirits, ethanol, other grades of alcohol and power.
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Godavari Biorefineries shares made a weak debut on Wednesday as the stock listed at Rs 308 at a discount of 12.5 percent over the issue price of Rs 352. On BSE, the stock got listed at Rs 310.55. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
