Godavari Biorefineries' IPO booked 1.83 times

25 Oct 2024 , 05:57 PM

Following a timid reception from investors on the third and last day of the bidding process, Godavari Biorefineries’ initial public offering (IPO) continued to be completely subscribed on the final day. On the first day of bidding, the issue was only 27% subscribed, and by the conclusion of the second day, it had just barely reached the halfway point.

The shares of Godavari Biorefineries are being sold for between Rs 334 and Rs 352. A minimum of 42 shares and their multiples are available for investors to apply for. Through an IPO that includes an offer-for-sale (OFS) of up to 6,526,983 lakh equity shares and a fresh share sale of Rs 325 crore, it hopes to raise Rs 554.75 crore.

In contrast to the 1,12,74,739 stock shares available for subscription by 5:50 pm on Friday, October 25, the data shows that investors placed bids for 2,06,16,372 equity shares, or 183%. Today marks the end of the issue’s three-day bidding period, which began on Wednesday, October 23.

While the amount designated for non-institutional investors (NIIs) achieved a 90% subscription, the allocation for individual investors was subscribed 1.71 times. However, as of the same time QIB portion was subscribed 2.76 times.

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