Godavari Biorefineries IPO opens today: Should you subscribe to it?

Godavari Biorefineries IPO opens today: Should you subscribe to it?

Godavari Biorefineries IPO: Rs 554.75 crore IPO of Godavari Biorefineries will be open for bidding between October 23-25 which is being sold in the range of Rs 334-352 apiece with a lot size of 42 equity shares.

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Godavari Biorefineries manufactures ethanol-based chemicals in India, which has a product portfolio including bio-based chemicals, sugar, various grades of ethanol, and power.Godavari Biorefineries manufactures ethanol-based chemicals in India, which has a product portfolio including bio-based chemicals, sugar, various grades of ethanol, and power.
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Pawan Kumar Nahar
  • Oct 23, 2024,
  • Updated Oct 23, 2024 10:47 AM IST

Godavari Biorefineries launched its initial public offering (IPO) on Wednesday, October 23, which will close for bidding on Friday, October 25. The ethanol player will be selling its shares in the fixed price band of Rs 334-352 per share, which can be applied for a minimum of 42 equity shares and its multiples thereafter.

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The company is an integrated bio-refinery in India. It operates three R&D facilities registered with the Department of Scientific and Industrial Research (DSIR), viewing research and development as a key growth driver to meet customer demands for new products, said Arihant Capital Markets.

"The company maintains a robust network of farmers in Karnataka to source sugarcane and plans to implement additional measures to ensure feedstock security. At the upper band of, the issue is valued at a P/E ratio of 146.47 times, based on a FY24 EPS of Rs 2.4. We are recommending a 'subscribe' rating for this issue," it said.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Godavari Biorefineries launched its initial public offering (IPO) on Wednesday, October 23, which will close for bidding on Friday, October 25. The ethanol player will be selling its shares in the fixed price band of Rs 334-352 per share, which can be applied for a minimum of 42 equity shares and its multiples thereafter.

Advertisement

Related Articles

The company is an integrated bio-refinery in India. It operates three R&D facilities registered with the Department of Scientific and Industrial Research (DSIR), viewing research and development as a key growth driver to meet customer demands for new products, said Arihant Capital Markets.

"The company maintains a robust network of farmers in Karnataka to source sugarcane and plans to implement additional measures to ensure feedstock security. At the upper band of, the issue is valued at a P/E ratio of 146.47 times, based on a FY24 EPS of Rs 2.4. We are recommending a 'subscribe' rating for this issue," it said.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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