Godavari Biorefineries files draft IPO papers, to expand ethanol capacity in 2022

In India, Godavari Biorefineries filed draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi) to raise funds via IPO and is planning to expand ethanol capacity to 600 klpd in 2022 as their aim is to deliver more than 100 million litres to this programme, says Samir Somaiya, Chairman, Godavari Biorefineries Limited.

The company has already expanded its capacity for making ethanol from 200 to 400 klpd in the last 2 years and Godavari Biorefineries is doubly excited to expand its production capacity further to meet the growing demand and opportunity commented Somaiya.

Speaking on the government’s resolve to meet the target of 20 percent ethanol blending in petrol by 2025, Somaiya said, “The Indian sugarcane processing industry is an asset to the country. The advancing of the 20% ethanol blending mandate to 2025 by the Government of India is in response to the increase in ethanol capacities across the Indian sugar industry. The sugarcane surplus in India will find its way in meeting a part of India’s energy needs, provide a cleaner burning fuel, mitigate climate change, and provide stability to sugarcane farmer incomes across the country.”