Godavari Biorefineries Ltd.’s Rs 554.8-crore initial public offering was subscribed 0.59 times, or 59%, as of 10:12 a.m. on its third day on Friday. It was subscribed 47% on day two and 27% on day one. 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 229.8 crore. The GMP of Godavari Biorefineries was Rs 15 as of 9:27 a.m. on Oct. 25, according to Chittorgarh’s unit InvestorGain.
The price band is set at Rs 334 to Rs 352 per share. Retail investors can apply for a minimum lot size of 42 shares, bringing the total investment per application to Rs 14,784.
The subscription period runs from Wednesday to Friday. Ahead of the IPO, the company raised Rs 166.4 crore from anchor investors, allotting 47.3 lakh shares at Rs 352 each to 19 anchor investors. ICICI Prudential ELSS Tax Saver Fund and 360 One Equity Opportunity Fund received the largest allocation of 11.33%.
The company’s shares are expected to list on the mainboard exchanges on Oct. 30.
Content retrieved from: https://www.ndtvprofit.com/ipos/godavari-biorefineries-ipo-day-3-live-updates-check-price-gmp.
