Godavari Biorefineries files paperwork with Sebi for an IPO

Godavari Biorefineries has filed preliminary papers with capital markets regulator Sebi to boost funds via an preliminary public providing (IPO).

The IPO includes contemporary issuance of fairness shares value Rs 370 crore and an provide of sale (OFS) of 65,58,278 fairness shares by promoters and traders, the draft crimson herring prospectus (DRHP) confirmed.

The OFS consists of sale of 5 lakh fairness shares every by Samir Shantilal Somaiya and Somaiya Agencies, as much as 49.27 lakh by Mandala Capital, as much as 3 lakh fairness shares by Filmedia Communication Systems, as much as 1.31 lakh fairness shares by Somaiya Properties and Investments and as much as 2 lakh fairness shares by Lakshmiwadi Mines and Minerals.

The company could think about a pre-IPO placement of as much as Rs 100 crore. If such placement is accomplished, the contemporary problem measurement might be lowered.

Proceeds from the contemporary problem might be used for fee of debt, to fund capital expenditure for sugarcane crushing enlargement, help capital expenditure for the potash unit and for common company functions.

Godavari Biorefineries is without doubt one of the main producers of ethanol and a pioneer in manufacturing ethanol-based chemical compounds in India. The diversified product portfolio includes bio-based chemical compounds, sugar, rectified spirits, ethanol, different grades of alcohol and energy.

Equirus Capital and JM Financial are the e-book working lead managers to the difficulty.

(Only the headline and film of this report could have been reworked by the Business Standard employees; the remainder of the content material is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has all the time strived exhausting to offer up-to-date info and commentary on developments which might be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on tips on how to enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these tough instances arising out of Covid-19, we proceed to stay dedicated to holding you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nevertheless, have a request.

As we battle the financial influence of the pandemic, we’d like your help much more, in order that we will proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from lots of you, who’ve subscribed to our on-line content material. More subscription to our on-line content material can solely assist us obtain the targets of providing you even higher and extra related content material. We consider in free, truthful and credible journalism. Your help via extra subscriptions may help us practise the journalism to which we’re dedicated.

Support high quality journalism and subscribe to Business Standard.

Digital Editor

Back to top button