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Godavari Biorefineries IPO
Price Band
₹334.0–352.0
Issue Size
₹554.75 Cr
Lot Size
42 shares
Min Investment
₹14,784
GMP
+₹5.0 (1.42%)
Issue Price
₹352.0
Subject to Sauda
₹200
Paid only if allotted
Godavari Biorefineries IPO AI Summary
- Godavari Biorefineries IPO is listed on BSE, NSE in the Diversified FMCG sector.
- Price band: ₹334.0–₹352.0 per share, lot size 42 shares (min. investment ₹14,784).
- Subscription window: 23 Oct–25 Oct 2024, listing on 30 Oct 2024.
- Current GMP is +₹5.0 (1.42%), an estimated listing price of ₹357 — unofficial and can change daily.
Godavari Biorefineries Limited is a prominent player in the diversified FMCG sector, specializing in ethanol-based chemicals. The company has shown a decline in total income and profit in recent periods, leading to an implied P/E ratio significantly higher than its peers. Investors should consider their risk tolerance and the company's financial outlook when evaluating this IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Godavari Biorefineries IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 25 Oct 2024 — not a current signal.
2 of 3 reviewers say Neutral
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Godavari Biorefineries IPO Grey Market Premium (GMP) Today
GMP
+₹5.0
GMP %
+1.42%
Est. Listing
₹357.0
Updated: 25 Jul 2026 14:03
About the Company
Incorporated in 1956, Godavari Biorefineries Limited manufactures ethanol-based chemicals in India. As of June 30, 2024, the company operates an integrated biorefinery with a capacity of 570 KLPD for ethanol production. As on March 31, 2024, the company is the largest producer of MPO in the world based on installed capacity. It is one of only two manufacturers of natural 1,3-butanediol and the only company in India that makes bio ethyl acetate. The company's product portfolio includes bio-based chemicals, sugar, various grades of ethanol, and power. These products are used in industries such as food, beverages, pharmaceuticals, flavours and fragrances, power, fuel, personal care, and cosmetics The company has three research and development facilities registered with the Department of Scientific and Industrial Research (DSIR): one at the Sakarwadi Manufacturing Facility, one at the Sameerwadi Manufacturing Facility, and one in Navi Mumbai, Maharashtra. As of June 30, 2024, the company employs 52 permanent research staff, including eight scientists with doctoral degrees. As of October 2024, the company has obtained 18 patents and received 53 registrations for these products/processes across various countries. The company's client base includes marquee players such as Hershey India Pvt Ltd, Hindustan Coca-Cola Beverages Private Limited, M/s Karnataka Chemical Industries, M/s Techno Waxchem Pvt Ltd, LANXESS India Private Limited, IFF Inc., Ankit Raj Organo Chemicals Limited, Escorts Chemical Industries, Khushbu Dye Chem Pvt Ltd, Privi Speciality Chemicals Limited, Shivam Industries, and major oil marketing companies. The company serves customers in over twenty countries, including Australia, China, Germany, France, Italy, Japan, Kenya, the Netherlands, Singapore, the United Kingdom, the United Arab Emirates, Indonesia, and the United States. The company operates two manufacturing facilities, one in Bagalkot, Karnataka, and the other in Ahmednagar, Maharashtra. As of June 30, 2024, the company has 1,583 permanent employees, out of which 437 employees are semiskilled and unskilled.
Company Financials (₹ Cr)
As of 2024-06-30
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 1,554.62 | 1,991.66 | 1,743.52 | 1,733.54 |
| Total Income | 525.27 | 1,701.06 | 2,023.08 | 1,709.98 |
| Profit After Tax | -26.11 | 12.30 | 19.64 | 19.10 |
| NET Worth | 233.84 | 260.25 | 249.01 | 232.57 |
| Reserves and Surplus | 432.34 | 458.74 | 447.51 | 431.06 |
| Total Borrowing | 703.75 | 663.27 | 738.01 | 636.72 |
Key Ratios
EPS
₹2.93
NAV
₹55.75
ROE
-11.16%
ROCE
-2.35%
RoNW
-11.16%
P/B Value
6.31
P/E Ratio
120.04
Market Cap
₹1801.39 Cr
PAT Margin
-4.97%
Debt/Equity
3.01
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Dwarikesh Sugar Industries Ltd. | 43.66 | 10.16% | 17.3 | 4.44 | 4.44 |
| Dhampur Sugar Mills Ltd. | 168.28 | 12.21% | 11.2 | 20.27 | 20.27 |
| Dalmia Bharat Sugar And Industries Ltd | 362.27 | 9.29% | 15.83 | 33.66 | 33.66 |
| Balrampur Chini Mills Ltd. | 168.57 | 15.72% | 24.72 | 26.49 | 26.49 |
| Triveni Engineering & Industries Ltd. | 132.52 | 13.62% | 26.06 | 18.05 | 18.05 |
| EID Parry (India) Limited | 397.61 | 12.75% | 16.69 | 50.68 | 50.61 |
| Laxmi Organic Industries Limited | 65.18 | 6.71% | 65.11 | 4.46 | 4.43 |
| Jubilant Ingrevia Limited | 171.86 | 6.68% | 64.1 | 11.56 | 11.55 |
| Alkyl Amines Chemicals Ltd. | 247.87 | 11.75% | 78.84 | 29.13 | 29.09 |
| Godavari Biorefineries Limited This IPO | 62.05 | 4.73% | — | 2.93 | 2.93 |
Promoters
Samir Shantilal Somaiya, Lakshmiwadi Mines & Minerals Pvt.Ltd. and Somaiya Agencies Pvt.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by our Company 240.00 2 General corporate purposes 63.61
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹2,023.08 Cr in the year ending 31 Mar 2023, decreasing to ₹1,701.06 Cr by 31 Mar 2024, and further declining to ₹525.27 Cr as of 30 Jun 2024, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹19.64 Cr for the year ending 31 Mar 2023, declining to ₹12.30 Cr for the year ending 31 Mar 2024, and further falling to a loss of ₹26.11 Cr as of 30 Jun 2024, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
At the issue price of ₹352.0, Godavari Biorefineries has an implied P/E ratio of 120.04 based on its EPS of ₹2.93. This is significantly higher than its peers, which have P/E ratios ranging from 11.2 to 78.84.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of IPO shares before they are listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of the IPO shares compared to the issue price. A positive GMP suggests that the shares may list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their own investment goals and risk tolerance. It's important to consider the company's financial health and market position.
Who May Want to Wait
Investors who are risk-averse or uncomfortable with companies showing recent losses may want to avoid such IPOs. It's crucial to assess the company's financial performance and market conditions before investing.
IPO Timeline, Explained
The IPO opens for subscription on 23 October 2024 and closes on 25 October 2024. Allotment of shares will be finalized by 28 October 2024, and the shares are expected to be listed on the stock exchange on 30 October 2024.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are listed on the stock exchange at a price higher than the issue price. However, investing in IPOs carries risks, including market volatility and changes in investor sentiment, which can affect the stock price on the listing day.
This evaluation is generated from Godavari Biorefineries's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Godavari Biorefineries IPO GMP today?
Godavari Biorefineries IPO GMP today is +₹5.0 (1.42%), indicating an estimated listing price of ₹357. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Godavari Biorefineries IPO?
The price band of Godavari Biorefineries IPO is ₹334.0–₹352.0 per share.
When does Godavari Biorefineries IPO open and close?
Godavari Biorefineries IPO opens on 23 October 2024 and closes on 25 October 2024.
When does Godavari Biorefineries IPO list on the stock exchange?
Godavari Biorefineries IPO listed on 30 October 2024 at ₹357.0.
What is the lot size for Godavari Biorefineries IPO?
The lot size for Godavari Biorefineries IPO is 42 shares, requiring a minimum investment of ₹14,784.
What is the price band for the Godavari Biorefineries IPO?
The price band for the Godavari Biorefineries IPO is ₹334.0 to ₹352.0.
What is the minimum investment required?
The minimum investment required is ₹14,784.0.
What is the lot size for the IPO?
The lot size for the IPO is 42 shares.
When does the IPO open and close?
The IPO opens on 23 October 2024 and closes on 25 October 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO shares compared to the issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
23 Oct 2024
Close
25 Oct 2024
Allotment
28 Oct 2024
Listing
30 Oct 2024
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