Investors will get 42 shares in one lot of Rs 14,784
A big update has come regarding the IPO of Godavari Biorefineries, which manufactures ethanol and bio-based chemicals. The company’s IPO will open next week on Wednesday, October 23 and will close on Friday, October 25. Anchor investors will be able to bid for this IPO on October 22. Godavari Biorefineries is going to raise Rs 554.75 crore from its IPO.
The company fixed the price range of Rs 334 to Rs 352.
This will be a mainboard IPO, under which the company has fixed the price range of Rs 334 to Rs 352 for each share. Godavari Biorefineries will issue 92,32,955 new shares worth Rs 325.00 crore under its IPO. Whereas the promoters of the company will issue 65,26,983 shares worth Rs 229.75 crore through OFS. The company’s promoter Mandala Capital AG Limited is selling 49.27 lakh shares of its stake through this IPO.
Investors will get 42 shares in one lot of Rs 14,784
To subscribe for the Godavari Biorefineries IPO, retail investors will have to invest at least Rs 14,784 for one lot. Retail investors will be given 42 shares in one lot. Retail investors can bid for a maximum of Rs 1,92,192 for 13 lots, in which they will be given a total of 546 shares. Of the IPO proceeds, Rs 240 crore will be used to repay debt and the rest will be used for general corporate purposes.
The company will be listed in the stock market on 30 October
Let us tell you that after the closing of the IPO, the allotment of shares will be done on Monday, October 28. Shares will be credited to the demat accounts of investors on Tuesday, October 29 and then finally on Wednesday, October 30, the company will be listed on BSE and NSE.
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