Godavari Biorefineries collects Rs 166 crore from anchor investors ahead of IPO
Godavari Biorefineries Ltd on Tuesday said it has raised over Rs 166 crore from anchor investors, a day before its initial share-sale opening for public subscription. Marquee investors who participated in the anchor book included HDFC Mutual Fund, Whiteoak Capital Fund, Goldman Sachs (Singapore) Pte Ltd, Societe General and SBI General Insurance, according to a circular uploaded on BSE website.
As per the circular, Godavari Biorefineries allocated 47.28 lakh equity shares to 19 funds at Rs 352 apiece, which is also the upper price band of the IPO. This translates into a transaction size of Rs 166.42 crore.
Of the total allocation of 47.28 lakh equity shares to anchor investors, 23.74 lakh shares — accounting for 50.22 per cent of the total — were allotted to six domestic mutual funds across 10 schemes.
The IPO will be available for subscription between Rs 334 and Rs 352 per share during October 23-25.
The proposed initial share-sale is a combination of fresh issue of equity shares worth Rs 325 crore and an Offer-for-Sale (OFS) of 65.27 lakh equity shares valued Rs 230 crore, at the upper-end of the price band, by promoters and an investor. This translates into the total IPO size of Rs 555 crore.
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