Gandhar Oil Refinery India IPO : Gandhar Oil Refinery India Limited IPO Details

Gandhar Oil Refinery India Limited is all set to launch its Initial Public Offering (IPO) to the public, offering a significant opportunity for investors to participate in the growth story of this prominent white oil manufacturer. In this blog, we will provide you with an in-depth overview of the Gandhar Oil Refinery India Limited IPO, including its details, company background, financial performance, and what investors can expect.

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Gandhar Oil Refinery India IPO Details

The Gandhar Oil Refinery India IPO is a book-built issue with a total offering size of Rs 500.00 crores. It comprises a fresh issue of Rs 357.00 crore and an offer for sale of 1.2 crore shares. The subscription period for this IPO opens on November 21, 2023, and closes on November 23, 2023. The basis of allotment is expected to be finalized on November 29, 2023, and the shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) with a tentative listing date set for Monday, December 4, 2023.

Here’s a summary of the key IPO details:

ParameterDetails
IPO DateNovember 22, 2023 to November 24, 2023
Basis of AllotmentNovember 30, 2023
Listing DateDecember 5, 2023
Face Value₹2 per share
Price Range160.00 to 169.00 per share
Lot Size88 shares
Total Issue Size29,626,732 shares
(aggregating up to ₹500.69 Cr)
Fresh Issue17,869,822 shares
(aggregating up to ₹302.00 Cr)
Offer for Sale12,036,380 shares of ₹2 (aggregating up to ₹143.00 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Shareholding Pre-Issue80,000,000

Also Read: Upcoming IPO in India

Gandhar Oil Refinery India IPO Reservation

The IPO has a reservation for different categories of investors as follows:

  • Qualified Institutional Buyers (QIBs): Not more than 50.00% of the net offer
  • Retail Investors: Not less than 35.00% of the offer
  • Non-Institutional Investors (NII) or High Net Worth Individuals (HNI): Not less than 15.00% of the offer

Also See: Gandhar Oil Refinery IPO GMP

About Gandhar Oil Refinery India Limited

Gandhar Oil Refinery India Limited is a leading manufacturer of white oils, serving various industries such as consumer goods, healthcare, automotive, industrial, power, tyre, and rubber. The company offers over 350 products under the brand name “Divyol,” categorized into personal care, healthcare and performance oils (PHPO), lubricants, and process and insulating oils (PIO).

As of June 2022, Gandhar Oil Refinery India Limited has a global presence, catering to 100 countries. The company’s client base includes well-known names like Procter & Gamble (P&G), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami, and Amrutanjan Healthcare.

Financial Performance

Gandhar Oil Refinery India Limited has shown robust financial performance. Between the financial years ending on March 31, 2022, and March 31, 2021, the company’s revenue increased by an impressive 35.01%, and its profit after tax (PAT) rose by 14.41%.

Financial Data Line Graphs

IPO Objectives

The IPO comprises a Fresh Issue and an Offer for Sale. The company will not receive any proceeds from the Offer for Sale, which will not form part of the Net Proceeds. The Net Proceeds from the Fresh Issue will be utilized for the following purposes:

  1. Investment in Texol by way of a loan to finance the repayment/pre-payment of a loan facility availed by Texol from the Bank of Baroda.
  2. Capital expenditure for expanding the capacity of automotive oil at the company’s Silvassa Plant.
  3. Expansion in the capacity of petroleum jelly and accompanying cosmetic product division at the company’s Taloja Plant.
  4. Expansion in capacity of white oils by installing blending tanks at the company’s Taloja Plant.
  5. Funding working capital requirements of the company.
  6. General corporate purposes.

IPO Registrar

Link Intime India Private Ltd is the registrar for the Gandhar Oil Refinery India IPO. Investors can contact them at the following:

IPO Lead Managers

The lead managers for the Gandhar Oil Refinery India IPO are:

  1. Edelweiss Financial Services Ltd
  2. ICICI Securities Limited

IPO Timeline (Tentative Schedule)

Here is the tentative timeline for the Gandhar Oil Refinery India IPO:

  • IPO Opens: Tuesday, November 21, 2023
  • IPO Closes: Thursday, November 23, 2023
  • Basis of Allotment: Wednesday, November 29, 2023
  • Initiation of Refunds: Thursday, November 30, 2023
  • Credit of Shares to Demat: Friday, December 1, 2023
  • Listing Date: Monday, December 4, 2023
  • Cut-off time for UPI mandate confirmation: 5 PM on November 23, 2023

Conclusion

The Gandhar Oil Refinery India Limited IPO presents a unique opportunity for investors to participate in the growth of a leading white oil manufacturer with a strong customer base and a track record of financial success. As always, potential investors should conduct their due diligence, read the prospectus, and consult with financial advisors before making any investment decisions. Stay tuned for further updates as the IPO subscription period approaches.

FAQs

  1. When does the Gandhar Oil Refinery India IPO open for subscription?

    The subscription period for the Gandhar Oil Refinery India IPO opens on November 21, 2023.

  2. How can I apply for the Gandhar Oil Refinery India IPO?

    Investors can apply for the IPO through their demat accounts using the UPI mechanism. They can also apply through ASBA (Application Supported by Blocked Amount) at designated banks or online platforms.

  3. What is the price range for the Gandhar Oil Refinery India IPO?

    coming soon

  4. What is the minimum lot size for the Gandhar Oil Refinery India IPO?

    coming soon

  5. What is the purpose of the IPO proceeds?

    The IPO comprises a Fresh Issue and an Offer for Sale. The proceeds from the Fresh Issue will be used for purposes like funding expansion, working capital requirements, and general corporate purposes, as detailed in the IPO documents.

  6. Who are the lead managers for the Gandhar Oil Refinery India IPO?

    The lead managers for the IPO are Edelweiss Financial Services Ltd and ICICI Securities Limited.

  7. What is the basis of allotment for the Gandhar Oil Refinery India IPO?

    The basis of allotment for the IPO is expected to be finalized on November 29, 2023.

  8. What is the IPO listing date for Gandhar Oil Refinery India Limited?

    The tentative listing date for the IPO is Monday, December 4, 2023.

  9. How can I check the allotment status of the IPO?

    You can check the IPO allotment status on the official website of the registrar, Link Intime India Private Ltd, using your application number or PAN card details.

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