Ahmedabad: Godavari Biorefineries Limited, proposes to open its initial public offering of Equity Shares on Wednesday, October 23, 2024. The Offer comprises of fresh issue of such number of Equity Shares aggregating up to ₹ 3,250 million  and offer for sale of up to 6,526,983 Equity Shares. The price band of the Offer has been fixed at ₹ 334 to ₹ 352 per Equity Share. Bids can be made for a minimum of 42 Equity Shares and in multiples of 42 Equity Shares thereafter, the company announced today.

The Company intends to utilize the Net Proceeds towards repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company, estimated to be ₹ 2,400 million  and balance amount of the Net Proceeds towards general corporate purposes, the official statement said.

The statement also states, “The Offer for Sale comprises of up to 500,000 Equity Shares by Somaiya Agencies Private Limited, up to 500,000 Equity Shares by Samir Shantilal Somaiya, up to 200,000 Equity Shares by LakshmiwadiMines and Minerals Private Limited; up to 300,000 Equity Shares by Filmedia Communication Systems Private Limited, up to 100,000 Equity Shares by Somiya Properties Investment Private Limited and up to 4,926,983 Equity Shares by Mandala Capital AG Limited.”

Equirus Capital Private Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the Offer.