Mon Oct 21 05:59:53 UTC 2024: **Summary of Godavari Biorefineries Ltd. IPO Announcement:**

– **IPO Details**: Godavari Biorefineries Ltd. will launch an initial public offering (IPO) with a price band of Rs 334-352 per share.
– **Structure**: The IPO includes a fresh issue of shares valued at Rs 325 crore and an offer for sale (OFS) of over 65 lakh shares worth Rs 230 crore by existing shareholders.
– **Stake Sale**: Private equity firm Mandala Capital AG will sell 49 lakh shares as part of exiting the company. Other selling promoters include Somaiya Agencies Pvt. and others.
– **IPO Timeline**: The IPO opens on October 23 and closes on October 25, with an anchor round for institutional investors on October 22. Shares are set to list on October 30.
– **Use of Proceeds**: Funds from the fresh issue will go towards repaying Rs 240 crore in debt and the remainder for general corporate purposes. The company had a consolidated debt of Rs 748.9 crore as of June 2024.
– **Company Profile**: Godavari Biorefineries is engaged in producing ethanol-based chemicals, with an installed capacity of 570 kilo liters per day across its biorefineries in Maharashtra and Karnataka.
– **Clientele**: Its products are supplied to major companies, including Hershey India and Hindustan Coca-Cola Beverages.
– **Financial Performance**: The company reported a profit of Rs 12.3 crore for FY 2024, down from Rs 19.6 crore the previous year. Revenue decreased to Rs 1,686.7 crore from Rs 2,014.7 crore, and a loss of Rs 26.1 crore was recorded for Q1 FY 2025 on revenues of Rs 522.5 crore.
– **Lead Managers**: SBI Capital Markets Ltd. and Equirus Capital Pvt. are the lead book running managers for the IPO.

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