The allotment of shares for the Godavari Biorefineries IPO is set to be finalized today, October 28, 2024. This initial public offering (IPO), which opened on October 23, attracted significant interest, particularly from qualified institutional buyers (QIBs), who oversubscribed their portion by 2.76 times. The IPO, which closed on October 25, was offered at a price band of ₹334 to ₹352 per share with a lot size of 42 shares for investors. Here’s a detailed look at what investors need to know about this IPO allotment, how to check the allotment status, and the company’s background.
Godavari Biorefineries IPO Subscription Details
The Godavari Biorefineries IPO received a good response from different categories of investors, leading to an overall subscription rate of 1.83 times. Specifically, QIBs showed the highest interest, subscribing 2.76 times, while retail investors subscribed at a rate of 1.71 times. However, the non-institutional investors (NIIs) portion saw a relatively lower subscription at 0.90 times. This varied level of interest reflects the general optimism and some cautious interest in the market for this IPO.
Steps to Check Godavari Biorefineries IPO Allotment Status
For investors eagerly waiting to know if they’ve been allotted shares, the allotment status will be available today. Here’s a simple guide to checking the status:
- Visit the BSE or Link Intime India Website:
Investors can check the allotment status on the official website of the BSE or Link Intime India, the IPO registrar. - Choose the IPO Allotment Option:
Select “IPO Allotment” on the website, enter the required details (like PAN number and application number), and click on “Submit.” - Direct Links for Allotment Check:
Once the allotment is finalized, these platforms will show investors whether they have received an allotment or not.
The grey market premium (GMP) for Godavari Biorefineries IPO shares has shown mild gains. As of today, the GMP is approximately ₹5 per share, which suggests a small premium of around 1.42% above the IPO price. If these trends continue, the shares could list at around ₹357 on the stock exchange, a slight premium over the upper band of ₹352. The GMP, an unofficial indicator of market demand, reflects cautious optimism among investors for a modest listing gain. It’s important to note that the actual listing price could differ, as it depends on the market conditions at the time of listing.
Godavari Biorefineries Limited (GBL) is a prominent integrated sugar company in India with a strong focus on sustainability and renewable energy. Operating in multiple segments, including sugar production, ethanol, bio-based chemicals, and power, GBL is a well-established player in the Indian sugar industry. The company is notably the largest ethanol producer by volume in India and the leading global manufacturer of 3-methyl-3-pentene-2-one (MPO), a bio-based chemical widely used in various applications. This focus on renewable products and diversification of revenue streams has made Godavari Biorefineries a standout in the biochemicals and sugar sectors.
The Godavari Biorefineries IPO allotment, expected today, is highly anticipated by investors. With a grey market premium of around ₹5, the shares are projected to list at a slight premium on October 30, 2024. As the company holds a solid position in India’s sugar and bio-based chemicals market, this IPO offers a unique opportunity for those interested in sustainability-focused investments. However, investors should remain cautious and consider their financial goals before making final decisions on this IPO.
