The shares of Godavari Biorefineries listed at a discount of 12.50% on NSE. The shares get listed at ₹308 on NSE, 12.50% discount on issue price of ₹352 and at ₹310.55 on BSE, 11.58% below.
The company has offered its shares for subscription from October 23-25. The issue received 1.83 times bidding which was led by Qualified Institutional Investors (QIBs) who have subscribed 2.76 times the reserved quota. The NII portion was booked on 90% while the retail portion booked 1.71 times.
The ethanol and bio-based chemicals manufacturer raised ₹554.75 crore through its public offering, comprising ₹325 crore from a fresh issue of shares and ₹230 crore through an offer-for-sale.
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