Godavari Biorefineries Ltd shares made a disappointing debut on October 30, listing at Rs 308 on the NSE—a 12.5% discount from its issue price of Rs 352.
The Rs 554.75 crore IPO included a fresh issue of 92 lakh shares worth Rs 325 crore and an offer for sale of 65 lakh shares totaling Rs 229.75 crore. The IPO was open for bidding from October 23 to 25 and saw a 1.9-times subscription rate. Retail investors subscribed 1.8 times, and Qualified Institutional Buyers (QIBs) showed the strongest demand with a 2.8-times subscription, while Non-Institutional Investors (NIIs) showed less interest with a 0.9-times subscription.