Gandhar Oil Refinery Launches IPO with Strong Investor Interest
Gandhar Oil Refinery Ltd has stepped into the primary market with its much-anticipated Initial Public Offering (IPO) on November 21, 2023. The IPO, open for subscription until November 23, has already captured significant attention from investors.
Gandhar Oil IPO Details
The white oil manufacturer has set the Gandhar Oil IPO price band at ₹160 to ₹169 per equity share, aiming to raise ₹500.69 crore from the market. The offering comprises a fresh issue of 1.78 crore shares worth ₹302 crore and an offer for sale of 1.17 crore shares worth ₹198.69 crore.
| Event | Date |
|---|---|
| Issue Period | November 22-24, 2023 |
| Deadline for UPI Mandate | 5:00 PM on Nov 24, 2023 |
| Finalization of Allotment | November 30, 2023 |
| Initiation of Refunds | December 1, 2023 |
| Credit of Shares | December 4, 2023 |
| Date of Listing | December 5, 2023 |
| Mandate End Date | December 9, 2023 |
| Anchor Investors Lock-In End Date | December 24, 2023 |
Investor Sentiment and Market Indicators
The primary market response has been overwhelmingly positive, as evidenced by the strong demand seen across various investor categories. On the first day of subscription, the IPO saw robust interest, with retail and non-institutional investors subscribing 5.23 times and 4.2 times, respectively, of the public issue. Meanwhile, qualified institutional buyers showed a slightly lower interest, subscribing 1.3 times.
Market Speculation
InvestorGain.com reports a bullish trend in the grey market for Gandhar Oil Refinery Ltd. Shares are trading at a premium of ₹76, indicating considerable market optimism. This reflects a potential listing price of ₹224 in the higher price band of ₹169 per share.
Company Overview
Established in 1992, Gandhar Oil Refinery India Limited specializes in producing white oils, catering primarily to the consumer and healthcare sectors. Under the brand “Divyol,” the company offers over 350 products, spanning personal care, healthcare, lubricants, and insulating oils.
Business Divisions
- Personal Care, Healthcare, and Performance Oils (PHPO): Offers white oils used in consumer goods, healthcare, and various industries.
- Lubricants: Serves automotive and industrial sectors with specialized oils.
- Process and Insulating Oils (PIO): Provides transformer oils and rubber processing oils to diverse industries.
Market Reach
The company operates across 100 countries, serving 3,500 customers, including renowned brands like Procter & Gamble, Unilever, and Dabur. With manufacturing units in India and the UAE, Gandhar Oil Refinery continues to expand its global footprint.
Gandhar Oil Refinery (India) Limited Financial Performance Comparison (₹ Crore)
| 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 |
How to Find Out If You Got Allotted Shares in Gandhar Oil Refinery India Limited IPO?
| Platform | Website |
|---|---|
| Registrar and Transfer Agent | linkintime.co.in/MIPO/Ipoallotment.html |
| National Stock Exchange (NSE) | nseindia.com/invest/check-trades-bids-verify-ipo-bids |
For more information and updates on the Gandhar Oil Refinery IPO, investors can visit the company’s official website or regulatory platforms.
Note: The information provided in this article is based on available data and market analysis and should not be considered as investment advice. Investors are encouraged to conduct thorough research before making any investment decisions.