Godavari Biorefineries files DRHP with SEBI to raise ₹325 crore via fresh issue; Check IPO details

The projected archetypal share-sale is simply a operation of caller contented of equity shares worthy ₹325 crore and an Offer-for-Sale (OFS) of 65.27 lakh equity shares by promoters and an capitalist according to the draught reddish herring prospectus (DRHP).

Private equity steadfast Mandala Capital AG Ltd is offloading 49.27 lakh shares done the OFS route.

Proceeds from the caller contented to the tune of ₹240 crore volition beryllium utilized for indebtedness outgo and the remaining magnitude for wide firm purposes.

The Maharashtra-based Godavari Biorefineries is 1 of the salient manufacturers of ethanol-based chemicals successful India.

The company's diversified merchandise portfolio comprises bio-based chemicals, sugar, antithetic grades of ethanol and power. These products find exertion successful a scope of industries specified arsenic food, beverages, pharmaceuticals, flavours & fragrances, power, fuel, idiosyncratic attraction and cosmetics.

According to Frost & Sullivan Report, the bio-based chemicals marketplace has been increasing exponentially owing to the expanding request for environmentally sustainable solutions. The marketplace for bio-based chemicals successful 2023 was valued astatine USD 97.2 billion, and is expected to beryllium increasing astatine a CAGR (compound yearly maturation rate) of 10.4 per cent, for the adjacent 5 years from 2023 to 2028.

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Published: 15 Jun 2024, 08:59 PM IST