Godavari Biorefineries is scheduled to finalize the basis of allotment of its shares on Monday, October 28. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, October 28. The Mumbai-based solar player saw a historic response from the investors.
The IPO of Godavari Biorefineries was open for bidding between October 23 and October 25. It had offered its shares in the fixed price band of Rs 334-352 per share with a lot size of 42 shares. The company raised a total of Rs 554.75 crore from its IPO, which included a fresh share sale of Rs 325 crore and offer-for-sale (OFS) of up to 65,26,983 equity shares.
The issue was overall subscribed merely 1.83 times, thanks to the last minute interest from qualified institutional bidders (QIBs), whose quota was booked a 2.76 times. The allocation for retail investors was booked 1.71 times. The portion for non-institutional investors(NIIs) was undersubscribed at 90 per…
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