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Godavari Biorefineries IPO
Godavari Biorefineries Ltd
₹14,028 /42 sharesMinimum Investment
Godavari Biorefineries IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹352.00 | ₹308.00 | -₹44.00 (12.50%) |
Godavari Biorefineries IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 23 Oct ‘24 - 25 Oct ‘24 | ₹14,028 | 42 | ₹334 - ₹352 |
| Issue Size | IPO Doc |
|---|---|
| 554.75Cr | RHP PDF |
Subscription rate
As of 25 Oct'24, 04:00 PM
| Qualified Institutional Buyers | 2.76x |
| Non-Institutional Investor | 0.88x |
| Retail Individual Investor | 1.61x |
| Total | 1.77x |
About Godavari Biorefineries
Founded in
1956
Managing director
Mr. Samir Shantilal Somaiya
Parent organisation
Godavari Biorefineries Ltd
Godavari Biorefineries Ltd IPO
https://www.youtube.com/watch?v=ennOx5ljgMI
Strengths & Financials of Godavari Biorefineries
Strengths
Risks
Godavari Biorefineries claims to have established India’s first bio-based EVE manufacturing facility as of March 31, 2024.
The company’s Sameerwadi manufacturing facility has an 18,000 tonnes crushed per day (TCD) capacity as of June 30, 2024, and as of March 31, 2024, the company has an ethanol production capacity of 570 kilolitres per day (KLPD).
Godavari Biorefineries serves a prestigious clientele, including Hershey India Pvt Ltd, Hindustan Coca-Cola Beverages Private Limited, Karnataka Chemical Industries, Techno Waxchem Pvt Ltd, LANXESS India Private Limited, IFF Inc., Ankit Raj Organo Chemicals Limited, Escorts Chemical Industries, Khushbu Dye Chem Pvt Ltd, Privi Specialty Chemicals Limited, Shivam Industries, and OMCs.
The Sakarwadi manufacturing facility is ISO 9001:2015 certified for quality management systems, RC 14001:2015 certified for responsible chemical care, and ISO 14001:2015 certified for environmental management systems. Similarly, the Sameerwadi manufacturing facility is ISO 9001:2015 certified for quality management systems.
Godavari Biorefineries has served customers across more than 20 countries, including Australia, China, Germany, France, Italy, Japan, Kenya, the Netherlands, Singapore, the United Kingdom, the United Arab Emirates, Indonesia, and the United States of America.
Godavari Biorefineries sources key raw materials such as special denatured spirit (SDS), acetic acid, methyl ethyl ketone (MEK), and molasses from a limited number of third-party suppliers in India, the US, and the UAE, without long-term contracts. Any failure to procure these materials in a timely manner can hinder the company’s functions and can adversely affect the company’s business.
The company’s top 10 customers contributed Rs 961.37 crore (57.00%), Rs 1,050.61 crore (52.15%), and Rs 815.77 crore (47.92%) in FY24, FY23, and FY22, respectively, to the revenue from operations. Any loss of any of these major customers, a decrease in demand, or a failure to retain them can adversely affect the company’s operations and finances.
The company’s revenue is generated from a limited range of products, including sugar, ethyl acetate, ethanol, and 3-methyl-3-penten-2-one (MPO). Any fluctuations in the demand for these products or a decline in sales due to market competition or pricing changes can negatively impact the company’s revenue generation capabilities.
The company, its promoters, and its directors are involved in certain legal proceedings. Any adverse judgments in any of these cases can be detrimental to the company’s business prospects.
The company's ethanol sales are significantly linked to the Government of India's ethanol blended petrol program, which contributed Rs 482.13 crore (28.58%), Rs 566.30 crore (28.11%), and Rs 428.35 crore (25.16%) in FY24, FY23, and FY22, respectively, to the revenue from operations. Any adverse changes in government policies could hurt the company's operations and finances.
As of June 30, 2024, Godavari Biorefineries had total borrowings amounting to Rs 748.88 crore. Any inability to repay or service these loans could adversely affect the company’s financial standing.
The company’s operations rely on the smooth functioning of its two manufacturing units in Karnataka and Maharashtra. Any disruption in the business environment of these locations could negatively impact the company’s production and financial performance.
Godavari Biorefineries Financials
*All values are in Rs. Cr
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Application Details of Godavari Biorefineries IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹334 - 352 | Upto ₹2 Lakh |
| High Networth Individual | ₹334 - 352 | ₹2 - 5 Lakh |
For Godavari Biorefineries IPO, eligible investors can apply as Regular.