Godavari Biorefineries to launch over ₹ 700 cr IPO
Ethanol and bio-based chemicals maker Godavari Biorefineries Ltd on Sunday said it is watching the geo-political situation and will make its share market debut “at the right time”.
Godavari Biorefineries Ltd CEO and Managing Director Samir Somaiya told PTI that the company has already received the market regulator Sebi’s final approval for its IPO.
He said, “We got Sebi’s final comments on our IPO request during November-end (2021). We have one year to get listed. We will look at the right time for the listing”.
The company has time till November this year to list the IPO. About ₹ 370 crore would be the primary offering.
About Godavari Biorefineries
Godavari Biorefineries have the largest integrated bio-refinery in India and are one of the largest producers of ethanol and a pioneer in manufacturing ethanol-based chemicals in India Godavari Biorefineries are also the largest manufacturer of MPO worldwide, one of only two manufacturers of natural 1,3 butylene glycol globally, the fourth largest manufacturer of ethyl acetate in India and the only company in India to produces bio ethyl acetate Our diversified product portfolio comprising of bio-based chemicals, sugar, rectified spirits, ethanol, other grades of alcohol and power, finds application in a range of industries.
Godavari Biorefineries Company is the only company in India to have such a vast portfolio of bio-based products. They are a part of the Somaiya group of companies, which has an experience of over 80 years in the sugar industry and almost 60 years of experience in the bio-based chemicals industry.
Godavari Biorefineries utilise sugarcane as a feedstock to manufacture a wide range of products, including sugar, ethanol, bio-based chemicals and power and were among the first few companies in India to utilise sugarcane juice and syrup for the production of ethanol.
They continuously strive to improve the valorisation of sugarcane through development of down-stream products and increasing the diversion of sugarcane towards value added products. They believe that through our long history of purchasing sugarcane and continued support provided to the farmers, we have established strong relationships and goodwill among the farmers.
Source: Economic Times
For more details please read daily updates at www.unlistedstockstrades.com