Godavari Biorefineries to launch over Rs 700 cr IPO at right time, considering geo political situation

Godavari Biorefineries Ltd, a developer of ethanol and bio-based chemicals, said on Sunday that it is monitoring the geopolitical situation and will begin trading on the stock exchange “at the appropriate moment.”

Samir Somaiya, CEO and Managing Director of Godavari Biorefineries Ltd, told PTI that the business has already received final approval from market regulator SEBI for its Initial Public Offering (IPO).

“We received SEBI‘s final comments on our IPO request at the end of November” (2021). We have a year to get on the list. “We’ll see when the best time is to list,” he stated.

ABOUT GODAVARI BIOREFINERIES LTD

Godavari Biorefineries Ltd has two manufacturing sites in Bagalkot (Karnataka) and Ahmednagar (Maharashtra), as well as R&D facilities.

Somaiya stated that the company has begun expanding its ethanol capacity from 380 kilolitre per day (KLPD) to 570 KLPD, which would be completed by November this year.

According to him, the company is also in the “research stage” of producing second-generation ethanol and energy cane.

“We’re putting a lot more effort into research.” We’ve spent a lot of time researching 2nd and 3rd (generation) ethanol. We believe the moment will come for that (for 2nd generation ethanol). We understand how to do it and where the gaps are. I’ll say it’s in.

Godavari Biorefineries Ltd has two manufacturing sites in Bagalkot (Karnataka) and Ahmednagar (Maharashtra), as well as R&D facilities.

The corporation recently constructed a research centre in Ahmednagar and performed a ‘bhoomi pujan’ of a specialty chemical factory.
Godavari Biorefineries, based in Mumbai, exports both sugar and biochemicals. It has consumers from more than 20 different nations.