Godavari Biorefineries' IPO sees muted demand, with 66% subscription. Retail investors lead at 1.17 times, while analysts express caution due to significant debt and high valuations.

The three-day subscription window for the Godavari Biorefineries IPO, which opened on Monday, October 21, 2024, is set to conclude today

The initial public offering (IPO) of Godavari Biorefineries Limited, a player in the ethanol-based chemicals sector, has officially opened for bidding on October 23, 2024, and will remain accessible until.

As mentioned above, the Godavari Biorefineries IPO GMP (Grey Market Premium) today is ₹ 27, which means the grey market is expecting a listing gain of ₹ 27 per share. The grey market was neutral on the book build issue on the Godavari Biorefineries IPO subscription opening date.

Despite muted demand for the Godavari Biorefineries IPO, the gray market premium (GMP) has improved in recent days, with the company's shares currently trading at a 6% premium over the issue price.

The initial public offer of ethanol and bio-based chemicals maker Godavari Biorefineries Ltd subscribed 54 per cent on day two of bidding on Thursday.

Godavari Biorefineries is selling its shares in the price band of Rs 334-352 apiece. Investors can apply for a minimum of 42 shares and its multiples thereafter.

Godavari Biorefineries IPO opens on October 23 in the range of ₹334- ₹352, aiming to raise ₹554.75 crore. The funds will be used for debt repayment and corporate needs, with substantial shares reserved for institutional and retail investors.

Godavari Biorefineries Ltd.'s Rs 554.8-crore initial public offering was subscribed 34% so far on its second day on Thursday. The IPO consists of a fresh issue of 92 lakh shares worth Rs 325 crore and an offer for sale of 65 lakh shares worth Rs 229.