Godavari Biorefineries IPO Allotment Today — How To Check Status Online And Latest GMP

The initial public offer of ethanol and bio-based chemicals maker Godavari Biorefineries Ltd. got subscribed 1.83 times on the last day of bidding on Friday.

The Rs 555-crore IPO received bids for 2,06,19,060 shares against 1,12,74,739 shares on offer, according to data available with the NSE.

The Qualified Institutional Buyers (QIBs) part attracted 2.76 times subscription while the portion for Retail Individual Investors (RIIs) got subscribed 1.71 times. The category for non-institutional investors received 90% subscription.

The Godavari Biorefineries IPO is a combination of a fresh issue of equity shares worth Rs 325 crore and an offer-for-sale (OFS) of 65.27 lakh equity shares valued at Rs 230 crore at the upper end of the price band by promoters and an investor. This translates into the total IPO size of Rs 555 crore.

The price range for the offer was Rs 334-352 per share.

Godavari Biorefineries last week said it has raised over Rs 166 crore from anchor investors.

The allotment for the Godavari Biorefineries IPO will likely be finalised on October 28 and the company's shares will be listed on the BSE and the National Stock Exchange on October 30.

SBI Capital Markets and Equirus Capital are the book-running lead managers of the public issue.

Investors can check the Godavari Biorefineries IPO allotment status on the official website of the IPO registrar, Link Intime India Pvt. Ltd, and on the BSE website.

• Visit the IPO allotment page on Link Intime India here.

• Choose 'Godavari Biorefineries Limited' from the list of companies in the dropdown. (The name will be displayed once the share allocation is finalised)

• Select either PAN, Application Number, DP/Client ID or Account Number/IFSC to verify your allotment status.

• Enter the required information based on your selection above.

• Click the 'Submit' button to check your allotment status.

• Go to the IPO allotment page on the BSE website here.

• Select the issue type as 'Equity.'

• Choose 'Godavari Biorefineries Limited' from the dropdown menu.

• Enter your application number or PAN (Permanent Account Number).

• Complete the 'Captcha' for verification.

• Click on the 'Search' button to view your allotment status.

The grey market premium of Godavari Biorefineries IPO is Rs 5 as of 7:54 a.m. on Oct. 28, implying a 1.42% gain over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 357 per share.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Proceeds from the fresh issue to the tune of Rs 240 crore will be used for debt payment and the remaining amount for general corporate purposes.

Maharashtra-based Godavari Biorefineries is one of the prominent manufacturers of ethanol-based chemicals in India. The company's diversified product portfolio comprises bio-based chemicals, sugar, different grades of ethanol and power.

These products find application in a range of industries such as food, beverages, pharmaceuticals, flavours & fragrances, power, fuel, personal care and cosmetics.

(With PTI inputs)

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.