Gandhar Oil Refinery (India) Limited IPO (Gandhar Oil Refinery India IPO) Details
Gandhar Oil Refinery India IPO is a book built issue of Rs 500.69 crores. The issue is a combination of fresh issue of 1.79 crore shares aggregating to Rs 302.00 crores and offer for sale of 1.18 crore shares aggregating to Rs 198.69 crores.
Gandhar Oil Refinery India IPO bidding started from November 22, 2023 and ended on November 24, 2023. The allotment for the Gandhar Oil Refinery India IPO is expected to be finalized on Thursday, November 30, 2023. Gandhar Oil Refinery India IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, December 5, 2023.
Gandhar Oil Refinery India IPO price band is set at ₹160 to ₹169 per share. The minimum lot size for an application is 88 Shares. The minimum amount of investment required by retail investors is ₹14,872. The minimum lot size investment for sNII is 14 lots (1,232 shares), amounting to ₹208,208, and for bNII, it is 68 lots (5,984 shares), amounting to ₹1,011,296.
ICICI Securities Limited and Nuvama Wealth Management Limited are the book running lead managers of the Gandhar Oil Refinery India IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Gandhar Oil Refinery India IPO RHP for detailed information.
Gandhar Oil Refinery India IPO Details
| IPO Date | November 22, 2023 to November 24, 2023 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹160 to ₹169 per share |
| Lot Size | 88 Shares |
| Total Issue Size | 29,626,732 shares (aggregating up to ₹500.69 Cr) |
| Fresh Issue | 17,869,822 shares (aggregating up to ₹302.00 Cr) |
| Offer for Sale | 11,756,910 shares of ₹2 (aggregating up to ₹198.69 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 80,000,000 |
| Share holding post issue | 97,869,822 |
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Gandhar Oil Refinery India IPO Reservation
Gandhar Oil Refinery India IPO offers 29,626,730 shares. 5,925,346 (20.00%) to QIB, 4,444,010 (15.00%) to NII, 10,369,356 (35.00%) to RII and 8,888,018 (30.00%) to Anchor investors. 117,833 RIIs will receive minimum 88 shares and 1,202 (sNII) and 2,404 (bNII) will receive minimum 1,232 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 8,888,018 (30.00%) | NA |
| QIB Shares Offered | 5,925,346 (20.00%) | NA |
| NII (HNI) Shares Offered | 4,444,010 (15.00%) | |
| bNII > ₹10L | 2,962,673 (10.00%) | 2,404 |
| sNII < ₹10L | 1,481,337 (5.00%) | 1,202 |
| Retail Shares Offered | 10,369,356 (35.00%) | 117,833 |
| Total Shares Offered | 29,626,730 (100%) |
Gandhar Oil Refinery India IPO Anchor Investors Details
Gandhar Oil Refinery India IPO raises Rs 150.21 crore from anchor investors. Gandhar Oil Refinery India IPO Anchor bid date is November 21, 2023. Gandhar Oil Refinery India IPO Anchor Investors list
| Bid Date | November 21, 2023 |
| Shares Offered | 8,888,018 |
| Anchor Portion Size (In Cr.) | 150.21 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | April 5, 2024 |
Gandhar Oil Refinery India IPO Timeline (Tentative Schedule)
Gandhar Oil Refinery India IPO opens on November 22, 2023, and closes on November 24, 2023.
| IPO Open Date | Wednesday, November 22, 2023 |
| IPO Close Date | Friday, November 24, 2023 |
| Basis of Allotment | Thursday, November 30, 2023 |
| Initiation of Refunds | Friday, December 1, 2023 |
| Credit of Shares to Demat | Monday, December 4, 2023 |
| Listing Date | Tuesday, December 5, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 24, 2023 |
Gandhar Oil Refinery India IPO Lot Size
Investors can bid for a minimum of 88 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 88 | ₹14,872 |
| Retail (Max) | 13 | 1144 | ₹193,336 |
| S-HNI (Min) | 14 | 1,232 | ₹208,208 |
| S-HNI (Max) | 67 | 5,896 | ₹996,424 |
| B-HNI (Min) | 68 | 5,984 | ₹1,011,296 |
Gandhar Oil Refinery India IPO Promoter Holding
Promoters of the company are Mr. Ramesh Babulal Parekh, Mr. Samir Ramesh Parekh and Mr. Aslesh Ramesh Parekh.
| Share Holding Pre Issue | 87.50% |
| Share Holding Post Issue | 64.63% |
Gandhar Oil Refinery India IPO Anchor Investors Details
Gandhar Oil Refinery India IPO raises Rs 150.21 crore from anchor investors. Gandhar Oil Refinery India IPO Anchor bid date is November 21, 2023. Gandhar Oil Refinery India IPO Anchor Investors list
| Bid Date | November 21, 2023 |
| Shares Offered | 8,888,018 |
| Anchor Portion Size (In Cr.) | 150.21 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | April 5, 2024 |
Gandhar Oil Refinery India IPO Timeline (Tentative Schedule)
Gandhar Oil Refinery India IPO opens on November 22, 2023, and closes on November 24, 2023.
| IPO Open Date | Wednesday, November 22, 2023 |
| IPO Close Date | Friday, November 24, 2023 |
| Basis of Allotment | Thursday, November 30, 2023 |
| Initiation of Refunds | Friday, December 1, 2023 |
| Credit of Shares to Demat | Monday, December 4, 2023 |
| Listing Date | Tuesday, December 5, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 24, 2023 |
Gandhar Oil Refinery India IPO Lot Size
Investors can bid for a minimum of 88 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 88 | ₹14,872 |
| Retail (Max) | 13 | 1144 | ₹193,336 |
| S-HNI (Min) | 14 | 1,232 | ₹208,208 |
| S-HNI (Max) | 67 | 5,896 | ₹996,424 |
| B-HNI (Min) | 68 | 5,984 | ₹1,011,296 |
Gandhar Oil Refinery India IPO Promoter Holding
Promoters of the company are Mr. Ramesh Babulal Parekh, Mr. Samir Ramesh Parekh and Mr. Aslesh Ramesh Parekh.
| Share Holding Pre Issue | 87.50% |
| Share Holding Post Issue | 64.63% |
About Gandhar Oil Refinery (India) Limited
Incorporated in 1992, Gandhar Oil Limited is a prominent manufacturer of white oils that caters to the consumer and healthcare end industries.
As of June 30, 2022, the company offers an extensive range of over 350 products that primarily fall under three categories - personal care, healthcare and performance oils (PHPO), lubricants, and process and insulating oils (PIO) - under the brand name Divyol.
The company's products serve as crucial ingredients for various end products in sectors such as consumer goods, healthcare, automotive, industrial, power, tyre, and rubber, and are used by leading Indian and global companies.
As of June 2022, the company has catered to 100 countries across the globe. The company served over 3500 clients, including Procter & Gamble (P&G), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami, and Amrutanjan Healthcare.
Special Offer: Invest without brokerage fees in Equity Delivery and Direct Mutual Funds. Pay a flat Rs 20 per trade for Intra-day and F&O. Open an instant account with Zerodha and start trading today.
Gandhar Oil Refinery (India) Limited Financial Information (Proforma Consolidated)
Gandhar Oil Refinery (India) Limited's revenue increased by 20.71% and profit after tax (PAT) rose by 15.67% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,795.57 | 1,613.44 | 1,318.21 | 1,097.70 |
| Revenue | 1,071.52 | 4,101.79 | 3,397.98 | 2,069.58 |
| Profit After Tax | 54.28 | 213.18 | 184.30 | 161.14 |
| Net Worth | 810.79 | 760.21 | 560.71 | 375.76 |
| Reserves and Surplus | 763.99 | 719.19 | 529.07 | 355.68 |
| Total Borrowing | 335.62 | 169.53 | 158.16 | 176.78 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
| KPI | Values |
|---|---|
| Post P/E (x) | 6.16 |
| Market Cap (₹ Cr.) | 1654 |
| ROE | 32.28% |
| ROCE | 41.19% |
| Debt/Equity | 0.22 |
| EPS (Rs) | 23.77 |
| RoNW | 32.28% |
Objects of the Issue (Gandhar Oil Refinery India IPO Objectives)
The Offer comprises the Fresh Issue and the Offer for Sale. The company will not receive any proceeds from the Offer for Sale and the proceeds received from the Offer for Sale will not form part of the Net Proceeds.
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Investment in Texol by way of a loan for financing the repayment/pre-payment of a loan facility availed by Texol from the Bank of Baroda;
- Capital expenditure through the purchase of equipment and civil work required for (i) expansion in the capacity of automotive oil at the company's Silvassa Plant; (ii) expansion in the capacity of petroleum jelly and accompanying cosmetic product division at the company's Taloja Plant; and (iii) expansion in capacity of white oils by installing blending tanks at the company's Taloja Plant;
- Funding working capital requirements of the Company; and
- General corporate purposes.
Special Offer: Invest without brokerage fees in Equity Delivery and Direct Mutual Funds. Pay a flat Rs 20 per trade for Intra-day and F&O. Open an instant account with Zerodha and start trading today.
Gandhar Oil Refinery India IPO Subscription Status (Bidding Details)
The Gandhar Oil Refinery India IPO is subscribed 65.63 times on November 24, 2023 7:02:00 PM. The public issue subscribed 29.93 times in the retail category, 129.06 times in the QIB category, and 64.34 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 129.06 |
| NII | 64.34 |
| bNII (bids above ₹10L) | 61.93 |
| sNII (bids below ₹10L) | 69.17 |
| Retail | 29.93 |
| Total | 65.63 |
Gandhar Oil Refinery India IPO Prospectus
Gandhar Oil Refinery (India) Limited Contact Details
Gandhar Oil Refinery (India) Limited
18th floor, DLH Park,
S.V. Road
Goregaon (W), Mumbai 400 062
Phone: +91 22 4063 5600
Email: investor@gandharoil.com
Website: https://gandharoil.com/
Gandhar Oil Refinery India IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: gandharoil.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
Gandhar Oil Refinery India IPO FAQs
Gandhar Oil Refinery India IPO is a main-board IPO of 29,626,732 equity shares of the face value of ₹2 aggregating up to ₹500.69 Crores. The issue is priced at ₹160 to ₹169 per share. The minimum order quantity is 88 Shares.
The IPO opens on November 22, 2023, and closes on November 24, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Gandhar Oil Refinery India IPO opens on November 22, 2023 and closes on November 24, 2023.
Gandhar Oil Refinery India IPO lot size is 88 Shares, and the minimum amount required is ₹14,872.
Zerodha customers can apply online in Gandhar Oil Refinery India IPO using UPI as a payment gateway. Zerodha customers can apply in Gandhar Oil Refinery India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Gandhar Oil Refinery India IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the 'Gandhar Oil Refinery India IPO' row and click the 'Bid' button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
The finalization of Basis of Allotment for Gandhar Oil Refinery India IPO will be done on Thursday, November 30, 2023, and the allotted shares will be credited to your demat account by Monday, December 4, 2023. Check the Gandhar Oil Refinery India IPO allotment status.
Gandhar Oil Refinery IPO GMP
Gandhar Oil Refinery IPO last GMP is ₹75, last updated Nov 25th 2023 03:56 PM. With the price band of 169.00, Gandhar Oil Refinery IPO's estimated listing price is ₹244 (cap price + today's GMP).The expected percentage gain/loss per share is 44.38%.>> Gandhar Oil Refinery IPO Retail Subject to Sauda: ₹5000>> Gandhar Oil Refinery IPO Small HNI Subject to Sauda: ₹70000
We update GMP on a daily basis and based on last 18 sessions grey market activities, today IPO GMP trending upward and expects a strong listing. The lowest GMP is ₹20, while the highest GMP is ₹76. Stay with us to know the daily price trend of Gandhar Oil Refinery IPO GMP with expected listing price.
**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
Gandhar Oil Refinery Day-wise IPO GMP Trend
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 25-11-2023 | 169.00 | ₹75  | 5000/70000 | ₹244 (44.38%) | 25-Nov-2023 15:56 |
| 24-11-2023 Close | 169.00 | ₹75  | 5000/70000 | ₹244 (44.38%) | 24-Nov-2023 23:31 |
| 23-11-2023 | 169.00 | ₹76  | 5100/71400 | ₹245 (44.97%) | 23-Nov-2023 23:26 |
| 22-11-2023 Open | 169.00 | ₹73 | 4900/68600 | ₹242 (43.2%) | 22-Nov-2023 23:32 |
| 21-11-2023 | 169.00 | ₹76 | 5100/71400 | ₹245 (44.97%) | 21-Nov-2023 23:29 |
| 20-11-2023 | 169.00 | ₹61 | 4100/57400 | ₹230 (36.09%) | 20-Nov-2023 23:24 |
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