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IPO

Ethanol-based products maker Godavari Biorefineries files draft IPO papers

MoneyControl  

Godavari Biorefineries has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises fresh issuance of equity shares for INR 370 crore and an offer of sale (OFS) of 65,58,278 equity shares by promoters and investors. The OFS consists of sale of 5 lakh equity shares each by Samir Shantilal Somaiya and Somaiya Agencies, up to 49.27 lakh by Mandala Capital, up to 3 lakh equity shares by Filmedia Communication Systems, up to 1.31 lakh equity shares by Somaiya Properties and Investments and up to 2 lakh equity shares by Lakshmiwadi Mines and Minerals. Equirus Capital and JM Financial are the book running lead managers to the issue. Godavari Biorefineries is a producer of ethanol and ethanol-based chemicals.