Gandhar Oil IPO: How to Check Allotment Status

Mumbai, India – After a highly successful subscription period, Gandhar Oil Refinery Limited’s initial public offering (IPO) has garnered significant attention from investors, leading to a surge in the grey market premium (GMP). The Gandhar Oil IPO, which closed for subscription on Friday, saw robust demand from all categories of investors, particularly Qualified Institutional Buyers (QIBs).

Also See: Upcoming IPO in India

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Grey Market Premium (GMP) Soars

Market observers have noted that Gandhar Oil IPO shares are currently trading at a premium of ₹68 in the grey market, showcasing strong investor confidence in the company. This represents a slight dip from the Friday closing GMP of ₹75. Nevertheless, the GMP has witnessed a substantial increase, rising from approximately 30% to 45% in the past week alone, reflecting the enthusiasm generated by the IPO.

Also See: Gandhar Oil IPO GMP Today

Subscription Status Highlights Enthusiastic Response

The Gandhar Oil IPO’s subscription status underscores the overwhelming interest among investors. The ₹500.69 crore public issue was oversubscribed more than 64 times. The Qualified Institutional Buyer (QIB) segment saw exceptional demand with a subscription rate of 129 times, demonstrating strong institutional interest. Additionally, the Non-Institutional Investor (NII) portion witnessed robust demand, subscribing 62.23 times, while the Retail segment garnered 28.95 times subscription.

Allotment Date Anticipation

Investors eagerly await the Gandhar Oil IPO allotment date, which is expected to fall on 28th November 2023, i.e., Tuesday next week. This follows the T+3 schedule for IPO listings. Given that the IPO concluded on Friday, and Monday next week is a stock market holiday, the most likely IPO listing date is set for Thursday, 30th November 2023.

Also Read: Tata Tech IPO Allotment Status: How to Check allotment Status on Link Intime and BSE

How to Check Allotment Status

After the share allocation is announced, investors can easily check their Gandhar Oil IPO allotment status online. This can be done by visiting the official BSE website or the website of the IPO’s official registrar, Link Intime Private Limited. To expedite the process, investors can directly access the BSE link here or the Link Intime portal here to verify their Gandhar Oil IPO allotment status online.

The remarkable subscription figures and the escalating grey market premium signal a strong vote of confidence from investors in Gandhar Oil Refinery Limited. As the IPO journey progresses, all eyes are now on the allotment date, when investors will eagerly discover their share of this promising offering in the Indian oil industry.

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