Godavari Biorefineries has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 370 crore and an offer of sale (OFS) of 65,58,278 equity shares by promoters and investors.
Proceeds from the fresh issue will be used for payment of a debt, to fund capital expenditure for sugarcane crushing expansion, support capital expenditure for the potash unit, and general corporate purposes. Equirus Capital and JM Financial are the books running lead managers to the issue.
Godavari Biorefineries is one of the leading producers of ethanol and a pioneer in manufacturing ethanol-based chemicals in India. The diversified product portfolio comprises bio-based chemicals, sugar, rectified spirits, ethanol, other grades of alcohol and power.
Company Name | CMP |
---|---|
Shree Renuka Sugar | 41.91 |
Bajaj Hindusthan Sug | 32.04 |
Triveni Engg. & Inds | 350.15 |
Balrampur Chini Mill | 379.50 |
Dalmia Bharat Sugar | 378.50 |
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