Mandala Capital exits Godavari Biorefineries through an IPO.

Godavari has been completely transformed since Mandala’s initial investment in 2015.
From a traditional sugar processor, Godavari is now valorising various sugarcane waste and byproduct streams such as molasses, bagasse and press mud to create biofuels, biochemicals, renewable energy and bio fertilizers.

Godavari can now claim to be:
◦ One of India’s leading producers of ethanol (600KLPD distillery capacity) and green chemistry products (117,106 MTPA production capacity) including Crotonaldehyde, Bio Ethyl Acetate and Bio Ethyl Vinyl Ethers as of March 2024
◦ 1 of only 2 Indian manufacturers of natural 1,3 Butylene Glycol as of March 2024
◦ Globally, the largest producer of 3 Methyl-3 Penten-2-One in terms of installed capacity as of March 2024

Godavari has also had a direct and indirect impact on several rural beneficiaries through its various programs and efforts.

During our investment period, Godavari was Responsible Care® certified, received the BONSUCRO certification for its focus on sustainability and has received various awards recognising efforts in water management and green energy.