Godavari Biorefineries Limited — Others, 27-05-2025: Monitoring Agency Report

Godavari Biorefineries has announced a Monitoring Agency Report on the utilization of Rs. 325 crore IPO proceeds. Funds allocated to general corporate purposes exceeded the planned Rs. 63.61 crore by Rs. 1.40 crore due to IPO expense savings, which were redirected accordingly. The company completed its planned full repayment of borrowings. Cash loss widened to Rs. 60.25 crore in 9M FY25, impacted by seasonal sugarcane crushing and government limits on ethanol production from molasses. Unutilized IPO funds of Rs. 2.24 crore remain in designated bank accounts.