Godavari Biorefineries Limited IPO Details
Godavari Biorefineries Limited is set to launch an IPO, which includes a fresh issue of Rs 325 crore and an offer for sale (OFS) of up to 6.53 million shares by its existing shareholders and promoters.
The OFS breakdown is as follows:
- Mandala Capital AG: Up to 4.93 million shares
- Somaiya Agencies: Up to 500,000 shares
- Samir Shantilal Somaiya: Up to 200,000 shares
- Lakshmiwadi Mines and Minerals: Up to 200,000 shares
- Filmedia Communication Systems: Up to 300,000 shares
- Somaiya Properties and Investments: Up to 100,000 shares
The proceeds from the fresh issue will be primarily used to repay debt worth Rs 240 crore. As of March 2024, the company’s total debt stood at Rs 686 crore. Equirus Capital Private Limited and SBI Capital Markets Limited are the Book Running Lead Managers for the IPO.
About Godavari Biorefineries Limited
Godavari Biorefineries Limited offers a wide range of bio-based chemicals, sugar, ethanol, and power. These products serve various industries, including food and beverages, pharmaceuticals, fragrances, power, fuel, personal care, and cosmetics.
As of March 31, 2024, Godavari Biorefineries is one of India’s largest ethanol producers with a capacity of 570 KLPD. Their clients include major companies such as Hershey India, Hindustan Coca-Cola, LANXESS India, IFF Inc., and leading oil companies. The company has a significant global presence, serving customers in over 20 countries, including the USA, UK, China, Germany, and Japan.
Financial Performance
For the financial year 2024 (FY24), Godavari Biorefineries reported a total revenue of Rs 1,686.67 crore, compared to Rs 2,014.69 crore the previous year. The net profit for FY24 stood at Rs 12.30 crore, down from Rs 19.64 crore the year before.
This diverse portfolio and strong client base position Godavari Biorefineries Limited well for growth, despite recent financial challenges. The IPO aims to strengthen its financial position and support its ongoing operations and expansion plans.
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