Madhuri Madhusudan Kela Buys Stake In Godavari Biorefineries Worth Nearly Rs 17 Crore
Ace investor Madhusudan Kela's wife, Madhuri Madhusudan Kela, bought a 0.97% stake in Godavari Biorefineries Ltd. worth Rs 17 crore through an open market transaction on Wednesday. Kela bought 5 lakh shares at Rs 335.66 apiece in the debutant Godavari Biorefineries.
The company's promoters, Capri Global Capital Ltd., offloaded a 0.73% stake worth Rs 12.27 crore, according to bulk deal data on the NSE. Capri Global Capital sold 3.74 lakh shares at Rs 327.98 apiece.
Godavari Biorefineries's shares closed 2.5% lower at Rs 343.20 after it got listed at Rs 308 on the NSE on Wednesday, a discount of 12.5% over its issue price of Rs 352. It opened at Rs 310.55 on the BSE, a discount of 11.78%.
The company's IPO was subscribed 1.83 times on its third and final day. It consists of a fresh issue of 92 lakh shares worth Rs 325 crore and an offer for sale of 65 lakh shares worth Rs 229.8 crore.
The IPO witnessed solid demand across segments, with qualified institutional buyers (2.76 times), followed by retail investors (1.71 times) and non-institutional investors bidding 0.90 times the offer.
Earlier on Oct. 20, Godavari Biorefineries' Chairman and Managing Director Samir Somaiya said that the company aims to utilise the funds raised through the public offer to clear existing debts and to expand operations.
“The aim is to retire the debt of the company and the free cash flow thus generated will be used to invest into bio-based speciality chemicals later on,” he told NDTV Profit.
The Mumbai-based company manufactures ethanol-based chemicals and is an integrated bio-refinery with an installed capacity of 570 kilolitres per day for manufacturing ethanol as of June. According to the red herring prospectus, the company is one of India's largest producers of ethanol in terms of volume as of March.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
