When is the IPO of Godavari Biorefineries scheduled to be launched?

Godavari Biorefineries, which is one of India’s leading manufacturers of ethanol and bio-ethanol based chemicals, had filed its draft red herring prospectus for the IPO last year and had also got SEBI approval with observations in November last year. However, due to volatile market conditions, the company had kept its IPO announcement on hold. Now it is likely to make its IPO announcement plans by end of April or early part of May 2022.

However, the company is yet to take a final call which will be based on market conditions, geopolitical scenario, and the market excitement about the LIC IPO. The Rs.700 crore IPO of Godavari Biorefineries will comprise of a fresh issue primary shares worth Rs.370 crore and an offer for sale (OFS) of Rs.230 crore by the promoters and early shareholders. The current approval of SEBI is valid till November 2022, by which time the IPO has to be completed.