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Gandhar Oil IPO?


The initial public offering (IPO) of Gandhar Oil, valued at ₹501 crore, started its subscription phase on November 22 and is set to conclude on November 24. The offering price range is between ₹160 to ₹169 per share. Interested buyers can apply for shares in lots, with each lot containing 88 company shares. For retail investors, the minimum application amount for this IPO totals ₹14,872 (calculated as ₹169 multiplied by 88 shares).

What does Gandhar Oil do?

Gandhar holds a prominent position in the market as a top producer of white oils, generating substantial revenue. Their focus lies in the production of a diverse range of oils, including Pharmaceutical, Health care, and performance oil (PHPO), Process Insulating Oil (PIO), as well as a variety of Lubricants, spanning automotive and industrial oils.

Related:Fedbank Financial Services IPO

What is the IPO size of Gandhar Oil Refinery India Limited?

The ₹501 crore IPO will conclude on November 24. The IPO comprises a fresh issue of equity shares worth ₹302 crore and an offer for sale (OFS) of ₹1.17 crore by promoters and existing shareholders.

What’s the share price range and allocation of the Gandhar Oil IPO?

The IPO share price ranges from ₹160 to ₹169 per equity share with a face value of ₹2. The allocation splits not more than 50% for QIB, at least 15% for NIIs, and a minimum of 35% for retail investors.

What is the GMP of Gandhar oil?

The GMP, currently at ₹46, stands significantly higher than the upper end of the book-built IPO price of ₹169. This healthy GMP indicates a notable 27.22% listing premium for Gandhar Oil Refinery India Ltd over its IPO issue price. This implies an expected listing price of around ₹215 per share when Gandhar Oil Refinery India Ltd gets listed on December 5th, 2023.

What about the anchor investors and their contributions?

Before the IPO, Gandhar Oil raised ₹150 crore from 16 anchor investors at ₹169 per equity share. 47.58% of this allocation went to 3 domestic mutual funds, worth ₹71 crore.

Who manages the IPO process?

Link Intime India Private Ltd. is the registrar for the IPO. The book-running lead managers are Edelweiss Financial Services Ltd and ICICI Securities Limited.

What is the IPO subscription status?

IPO subscription status basically tells us how many times people have shown interest in buying shares during the time the IPO is available for purchase. It’s like seeing how many people want to buy tickets for a limited-time event. Investors can bid for shares through different stock exchanges, like BSE or NSE.

Disclaimer: The information provided regarding this Gandhar Oil IPO has been obtained from reliable online sources, but please note that investing in the stock market inherently carries risks, and any decisions made based on this information are at your own discretion and risk.

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Gandhar Oil IPO?