Godavari Biorefineries IPO subscribed 66% on Day 3 so far, GMP down to 4%. Check details

economictimes.indiatimes.com:

As of 11 am, the maximum number of bids were attracted by the retail investors with a subscription of 1.17 times, followed by the non-institutional investors (NIIs) with a subscription of 32%.

The qualified institutional buyers (QIBs) had merely bid for 8,526 shares out of the 31,45,977 shares reserved for them, unchanged from yesterday.

The IPO includes a fresh issue worth Rs 325 crore and an offer-for-sale (OFS) of up to 6.53 million shares by existing shareholders and promoters. Private equity firm Mandala Capital AG will exit the company, selling its entire stake of 49,26,983 shares in the OFS.

Godavari Biorefineries price band

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