Madhu Kela’s wife Madhuri Kela picks Godavari Biorefineries shares worth ₹17 crore in a bulk deal

Godavari Biorefineries made its stock market debut on Wednesday, October 30, and saw a flurry of bulk deals on the NSE. Notably, among the key transactions was a purchase by Madhuri Madhusudan Kela, wife of ace investor Madhusudan Kela, who acquired 500,000 shares of the company in a bulk deal.

Godavari Biorefineries share price closed at ₹343.90 on NSE on Wednesday, down 2.30 per cent with respect to the issue price of ₹352.

Bulk deals in Godavari Biorefineries

According to NSE data, Madhuri Kela bought 5,00,000 shares at an average price of ₹335.66 per share, aggregating to ₹16,78,30,000 or nearly ₹17 crore.

Besides, NK Securities Research Private Limited bought 3,02,207 shares at an average price of ₹335.68 and sold off the same number of shares at an average price of ₹335.85. Capri Global Capital offloaded 3,74,382 shares of Godavari Biorefineries at an average price of ₹327.98.

Godavari Biorefineries was listed at ₹308 apiece on NSE, a discount of 12.5 per cent over the issue price of ₹352. On the BSE, it listed at ₹310.55, down 11.78 per cent from the IPO price.

Godavari Biorefineries produces ethanol-derived chemicals. As of June 30, 2024, the company operates an integrated biorefinery with a 570 KLPD ethanol production capacity. As of March 31, 2024, it ranks as the world’s largest manufacturer of MPO by installed capacity, and stands as one of only two global producers of natural 1,3-butanediol and the sole Indian manufacturer of bio ethyl acetate.

Madhuri Madhusudan Kela's portfolio

According to Trendlyne, an equity research firm, by the end of September quarter, Madhuri Kela held significant stakes in IRIS Business Services (5.39 per cent), Niyogin Fintech (5.28 per cent) and Sangam India (4.86 per cent).

Shae held stakes over a per cent in Repro India (3.32 per cent), Rashi Peripherals (2.44 per cent), Unicommerce eSolutions (1.79 per cent), Samhi Hotels (1.70 per cent), Bombay Dyeing & Manufacturing Company (1.65 per cent) and Kopran (1.04 per cent).

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