Khaitan & Co Advised Godavari Biorefineries And Book Running Lead Managers On Its IPO

Khaitan & Co Advised Godavari Biorefineries and Book Running Lead Managers on its IPO

Khaitan & Co advised Godavari Biorefineries Limited and Book Running Lead Managers - Equirus Capital and SBI Capital Markets on its IPO, comprising of a fresh issue and an offer for sale aggregating to INR 5,547 million.

The IPO comprised a total of 15,759,937 equity shares, raising an aggregate of ₹554.75 crore

The IPO included a fresh issue of 9,232,954 equity shares, amounting to ₹325 crore, and an offer for sale of 6,526,983 equity shares by certain shareholders of the company, totalingb ₹229.75 crore. The offering was highly anticipated, and the IPO was subscribed 1.9 times by the close of bidding on October 25. The retail category was subscribed 1.8 times, while Qualified Institutional Buyers (QIBs) showed strong interest with a 2.8-time subscription rate. The Non-Institutional Investors (NIIs) category had a subscription rate of 0.9 times.

The IPO opened for trading on October 30 at ₹308 on the NSE, which was a 12.5% discount from its issue price of ₹352 per share.

The Khaitan & Co team was led by Partner Abhimanyu Bhattacharya, along Principal Associate Vijayaraghavan, Senior Associate Tishita Mukherjee, and Associates Ira Pandya, Ayushi Saumya, and Dipsa Prasanth.

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