Godavari Biorefineries IPO listing date today. GMP, experts signal muted debut of shares on BSE, NSE | Stock Market News

Godavari Biorefineries IPO Listing: Godavari Biorefineries shares are set to make their stock market debut today. Godavari Biorefineries IPO listing date is today, October 30.

The initial public offering (IPO) of Godavari Biorefineries Ltd was open from October 23 to 25. The IPO allotment was finalised on October 28 and the Godavari Biorefineries IPO listing date has been fixed as October 30. Godavari Biorefineries shares will be listed on both the stock exchanges, BSE and NSE.

“Trading Members of the Exchange are hereby informed that effective from Wednesday, October 30, 2024, the equity shares of Godavari Biorefineries Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” said a notice on BSE.

Godavari Biorefineries shares will be a part of Special Pre-open Session (SPOS) and will be available for trading from 10:00 AM.

Ahead of the share listing, investors now watch out for the trends in Godavari Biorefineries IPO grey market premium (GMP) to gauge the estimated listing price. Godavari Biorefineries IPO GMP today and stock market analysts expect the share listing to be muted or at a modest premium.

Here’s what Godavari Biorefineries IPO GMP signals and analysts expect for share listing:

Godavari Biorefineries IPO GMP Today

Godavari Biorefineries shares are showing a muted trend in the grey market. According to stock market observers, Godavari Biorefineries IPO GMP today is ₹5 per share. This indicates that in the grey market, Godavari Biorefineries shares are trading higher by ₹5 apiece than their issue price.

Godavari Biorefineries IPO Listing Price

Given the Godavari Biorefineries IPO GMP today and the issue price, the estimated listing price of Godavari Biorefineries shares is ₹357 apiece, which is at a premium of 1.42% to the IPO price of ₹352 per share.

Godavari Biorefineries Ltd is one of the largest producers of Ethanol in terms of volume. The company has a well-established relationship with a diversified marquee customer.

According to Shivani Nyati, Head of Wealth, Swastika Investmart Ltd, although the liberalized ethanol production standards may help the company, the current IPO valuation is not advised.

“There is little chance of substantial listing benefits. Applicants for this IPO may be investors willing to take on possible difficulties. Other choices, meanwhile, might be better suited for people looking for quick profits,” Nyati said.

Godavari Bio Refineries Ltd. has attracted moderate interest for its IPO, achieving a subscription rate of 1.83 times.

“The company is expected to debut in a subdued stock market on October 30, 2024, with a projected premium of around 1.5% above the upper price band. We believe that Godavari Biorefineries’ strong business performance and favourable industry trends present an investment opportunity from a medium—to long-term perspective. Therefore, we suggest that investors who have received shares consider maintaining their positions with this outlook in mind,” said Prathamesh Masdekar, Research Analyst, StoxBox.

Anshul Jain, Head of Research at Lakshmishree Investment and Securities also expects Godavari Biorefineries IPO listing to be at a marginal premium.

“With the current Godavari Biorefineries IPO GMP of ₹5, the IPO is estimated to list at ₹357 per share, reflecting a modest 1.42% gain. Investors are eyeing Godavari Biorefineries’ debut, as the company strengthens its role in India’s booming biofuels and sustainable chemicals sector,” said Jain.

Godavari Biorefineries IPO Details

Godavari Biorefineries IPO opened for subscription on Wednesday, October 23, and closed on Friday, October 25. The IPO allotment was finalised on October 28 and the Godavari Biorefineries IPO listing is today, October 30. Godavari Biorefineries shares will be listed on both the stock exchanges, BSE and NSE.

Godavari Biorefineries IPO price band was set at ₹334 to ₹352 per share. The company raised ₹554.75 crore from the book-built issue which comprised a fresh issue of 92.32 lakh equity shares worth ₹325 crore and an offer-for-sale (OFS) component of 65.26 lakh shares amounting to ₹229.75 crore.

Godavari Biorefineries IPO has been subscribed 1.83 times in total. The public issue was subscribed 1.71 times in the retail category, 2.76 times in the Qualified Institutional Buyers (QIBs) category, and 0.90 times in the Non Institutional Investors (NII) category.

Equirus Capital and SBI Capital Markets are the book running lead managers of the Godavari Biorefineries IPO, while Link Intime India is the IPO registrar.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.