Godavari Biorefineries Limited manufactures ethanol-based chemicals in India. As of June 30, 2024, the company operates an integrated biorefinery with a capacity of 570 KLPD for ethanol production.
As on March 31, 2024, the company is the largest producer of MPO in the world based on installed capacity. It is one of only two manufacturers of natural 1,3-butanediol and the only company in India that makes bio ethyl acetate.
The company’s product portfolio includes bio-based chemicals, sugar, various grades of ethanol, and power. These products are used in industries such as food, beverages, pharmaceuticals, flavours and fragrances, power, fuel, personal care, and cosmetics
The company has three research and development facilities registered with the Department of Scientific and Industrial Research (DSIR): one at the Sakarwadi Manufacturing Facility, one at the Sameerwadi Manufacturing Facility, and one in Navi Mumbai, Maharashtra. As of June 30, 2024, the company employs 52 permanent research staff, including eight scientists with doctoral degrees.
As of October 2024, the company has obtained 18 patents and received 53 registrations for these products/processes across various countries.
The company’s client base includes marquee players such as Hershey India Pvt Ltd, Hindustan Coca-Cola Beverages Private Limited, M/s Karnataka Chemical Industries, M/s Techno Waxchem Pvt Ltd, LANXESS India Private Limited, IFF Inc., Ankit Raj Organo Chemicals Limited, Escorts Chemical Industries, Khushbu Dye Chem Pvt Ltd, Privi Speciality Chemicals Limited, Shivam Industries, and major oil marketing companies.
The company serves customers in over twenty countries, including Australia, China, Germany, France, Italy, Japan, Kenya, the Netherlands, Singapore, the United Kingdom, the United Arab Emirates, Indonesia, and the United States.
The company operates two manufacturing facilities, one in Bagalkot, Karnataka, and the other in Ahmednagar, Maharashtra.
As of June 30, 2024, the company has 1,583 permanent employees, out of which 437 employees are semiskilled and unskilled.
Godavari Biorefineries IPO – Details
| IPO Opening Date | 23 October 2024 |
| IPO Closing Date | 25 October 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,57,59,938 Shares Worth ₹554.75 Crore Fresh Issue: 92,32,955 Shares Worth ₹325.00 Crore Offer For Sale: 65,26,983 Shares Worth ₹229.75 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹334 – ₹352 per share |
| Market Lot | 42 Shares |
| Min Order | 42 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Godavari Biorefineries IPO – Date Schedule
| IPO Open Date | 23 October 2024 |
| IPO Close Date | 25 October 2024 |
| Basis of Allotment | 28 October 2024 |
| Initiation of Refund | 29 October 2024 |
| Credit of Shares to Demat Account | 29 October 2024 |
| IPO Listing Date | 30 October 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 25, 2024 |
Godavari Biorefineries IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 42 | ₹14,784 |
| Retail (Max) | 13 | 546 | ₹1,92,192 |
| S-HNI (Min) | 14 | 588 | ₹2,06,976 |
| S-HNI (Max) | 67 | 2,814 | ₹9,90,528 |
| B-HNI (Min) | 68 | 2,856 | ₹10,05,312 |
Competitive Strengths
- One of the manufacturers of ethanol-based chemicals in India and one of India’s largest producers of ethanol in terms of volume;
- Integrated biorefinery with an installed capacity of 570 KLPD for manufacturing ethanol as at March 31, 2024;
- Diversified product portfolio and well-established relationship with a diversified marquee customer base across industries and geographies;
- Well-developed in-house research and development capabilities; and
- Member of the Somaiya group and experienced promoter, board of directors, key managerial personnel, and senior management.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 1709.97 | 1677.90 | 19.09 | 636.72 |
| 31 March 2023 | 2023.07 | 1991.32 | 19.63 | 738.01 |
| 31 March 2024 | 1701.06 | 1688.61 | 12.29 | 663.27 |
| 30 June 2024 | 525.27 | 566.90 | -26.10 | 703.75 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | -11.16% |
| ROCE | -2.35% |
| Debt/Equity | 3.01 |
| RoNW | -11.16% |
| P/BV | 6.31 |
| PAT Margin (%) | -4.97 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 2.93 | -20.4 |
| P/E (x) | 120.04 | -17.25 |
Object Of The Issue
- Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company; and
- General corporate purposes.
Godavari Biorefineries IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 2 | Alkyl Amines Chemicals Limited | 78.84 |
| 2 | 1 | Jubilant Ingrevia Limited | 64.10 |
| 3 | 2 | Laxmi Organic Industries Limited | 65.11 |
| 4 | 1 | EID Parry (India) Limited | 16.69 |
| 5 | 1 | Triveni Engineering and Industries Limited | 26.06 |
| 6 | 1 | Balrampur Chini Mills Limited | 24.72 |
| 7 | 2 | Dalmia Bharat Sugar & Industries Limited | 15.83 |
| 8 | 10 | Dhampur Sugar Mills Limited | 11.20 |
| 9 | 1 | Dwarikesh Sugar Industries Limited | 17.30 |
Godavari Biorefineries IPO Promoter Holding
| Pre Issue Share Holding | 81.06% |
| Post Issue Share Holding | 63.31% |
Godavari Biorefineries IPO Prospectus
Company Contact Information
| Godavari Biorefineries Limited Somaiya Bhavan, 45/47, M.G. Road Fort, Mumbai – 400001 Phone: +91 22 6170 2177 Email: investors@somaiya.com Website: https://www.godavaribiorefineries.com/ |
Godavari Biorefineries IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: godavari.ipo@linkintime.co.in Website: https://linkintime.co.in/initial_offer/public-issues.html |
Godavari Biorefineries IPO Lead Manager(s)
| 1. SBI Capital Markets Limited 2. Equirus Capital Private Limited |
Godavari Biorefineries IPO FAQs
| What is Godavari Biorefineries IPO? Godavari Biorefineries IPO is a main-board IPO. The issue is priced at ₹334 to ₹352 per equity share. The IPO is to be listed on BSE & NSE. |
| When Godavari Biorefineries IPO will open? The IPO is to open on 23 October 2024 for QIB, NII, and Retail Investors. |
| What is Godavari Biorefineries IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Godavari Biorefineries IPO? You can apply Godavari Biorefineries IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Godavari Biorefineries IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Godavari Biorefineries IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Godavari Biorefineries IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Godavari Biorefineries IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Godavari Biorefineries IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Godavari Biorefineries IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Godavari Biorefineries IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Godavari Biorefineries IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Godavari Biorefineries IPO Size? Godavari Biorefineries IPO size is ₹554.75 Crore. |
| What is the Godavari Biorefineries IPO Price Band? Godavari Biorefineries IPO Price Band is ₹334 to ₹352. |
| What is Godavari Biorefineries IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 42 Shares with ₹14,784 amount while the maximum bid is 546 Shares with ₹1,92,192. |
| What is the Godavari Biorefineries IPO Allotment Date? Godavari Biorefineries IPO allotment date is 28 October 2024. |
| What is the Godavari Biorefineries IPO Listing Date? Godavari Biorefineries IPO listing date is 30 October 2024. The IPO is to be listed on BSE and NSE. |
