Gandhar Oil Refinery India IPO: Check IPO Date, Price, Details | Espresso

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Gandhar Oil Refinery (India) Ltd IPO opens on November 22. Check IPO Details Issue Date Price

November 21, 2023
Gandhar Oil Refinery (India) Ltd IPO opens on November 22. Check IPO Details Issue Date Price

Gandhar Oil Refinery (India) Limited is coming out with a fresh public issue to raise Rs. 500.69 crores from the market.

Below are the details of the Gandhar Oil Refinery (India) Limited IPO:

  • Issue opens – November 22 (Wednesday)
  • Issue closes – November 24 (Friday)
  • Issue size – Rs. 500.69 crores
  • Price band – Rs. 160 to Rs. 169 per equity share
  • Bid lot – 88 shares and in multiples thereof.

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And here are some details of the company and further details on the Gandhar Oil Refinery (India) Limited IPO.

Company details:

  • Gandhar Oil Refinery (India) Limited is a leading manufacturer of white oils by revenue with a growing focus on the consumer and healthcare end-industries. As of June 30, 2023, their product suite comprised over 440 products primarily across the personal care, healthcare and performance oils (“PHPO”), lubricants and process and insulating oils (“PIO”) divisions under the “Divyol” brand. Their products are used as ingredients by leading Indian and global companies for the manufacture of end products for the consumer, healthcare, automotive, industrial, power and tyre and rubber sectors. The white oil market is the fastest growing segment in the specialty oils sector and their Company is India’s largest manufacturer of white oils by revenue in Financial Year 2023, including domestic and overseas sales and is one of the top five players globally in terms of market share in the calendar year 2022 (Source: CRISIL Report).
  • As of June 30, 2023, their products were sold in over 100 countries across the globe. They catered to over 3,500 customers in the Financial Year 2023, including leading Indian and global companies such as Procter & Gamble (“P&G”), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami and Amrutanjan Healthcare, supported by their global supplier base and manufacturing operations in India and United Arab Emirates. Also Read: How to Bid for an IPO?
  • They currently operate three manufacturing facilities with a combined annual production capacity of 522,403 kL as of June 30, 2023, with plants located in (i) Taloja, Maharashtra (the “Taloja Plant”), (ii) Silvassa, the Union Territory of Dadra and Nagar Haveli and Daman and Diu (the “Silvassa Plant”) and (iii) Sharjah, United Arab Emirates (the “Sharjah Plant”) to cater to domestic and overseas demand for their products. They have obtained various quality certifications for their plants, each of which is ISO-certified.

Issue Size: Rs. 500.69 crores

Issue break-up:

  • QIB – 50% of the offer – Rs. 250.35 crores
  • NIB – 15% of the offer – Rs. 75.10 crores
  • RET – 35% of the offer – Rs. 175.24 crores

Listing: BSE and NSE

Registrar: Link Intime India Pvt Ltd

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

  • Application made using third party UPI or ASBA Bank A/c are liable to be rejected. 
  • The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e. Friday, November 24, 2023     

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