Godavari Biorefineries IPO price band set at ₹334-352 apiece; here are 10 key things to know from RHP | Stock Market News
Source: Live Mint
Godavari Biorefineries IPO: Godavari Biorefineries has fixed the price band for its upcoming initial public offering (IPO), which is slated to open for subscription on October 23, in the range of ₹334 to ₹352 apiece.
Godavari Biorefineries IPO will close for subscription on October 25. The anchor investment date is fixed as October 22. The allotment of shares will likely take place on October 28 with listing likely on October 30.
The initial share sale is a mix of fresh issue worth ₹325 crore and an offer-for-sale (OFS) component of ₹229.75 crore. Overall, the company is looking to raise ₹554.75 crore.
Under the OFS, Mandala Capital will be selling its entire stake of 49,26,983 equity shares. It had acquired the stock at an average price of ₹188.91 per share. Other selling shareholders include promoters Somaiya Agencies Private Limited, Samir Shantilal Somaiya, Lakshmiwadi Mines and Minerals Private Limited, Filmedia Communication Systems Private Limited and Somaiya Properties and Investments Private Limited.
The proceeds raised from the fresh share sale will be utilised for repayment or pre-payment, in full or in part, of certain borrowings availed by the company, and for general corporate purposes.
