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 3.02 crores and offer for sale of 1.18 crore shares aggregating to Rs 198.69 crores.
Gandhar Oil Refinery India IPO opens for subscription on November 22, 2023 and closes 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.
Edelweiss Financial Services Ltd and ICICI Securities 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 ₹3.02 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 |
Gandhar Oil Refinery India IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
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 |
| Lot Size Calculator |
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
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, company has catered to 100 countries across the globe. The company served more than 3500 clients including companies like Procter & Gamble (“P&G”), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami and Amrutanjan Healthcare.
Gandhar Oil Refinery India Limited Financial Information (Proforma Consolidated)
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2021 |
| Assets | 1,795.57 | 1,613.44 | 1,097.70 |
| Revenue | 1,071.52 | 4,101.79 | 2,069.58 |
| Profit After Tax | 54.28 | 213.18 | 161.14 |
| Net Worth | 810.79 | 760.21 | 375.76 |
| Reserves and Surplus | 763.99 | 719.19 | 355.68 |
| Total Borrowing | 335.62 | 169.53 | 176.78 |
| Amount in ₹ Crore |
Key Performance Indicator
| KPI | Values |
|---|---|
| Market Cap (₹ Cr.) | 1654 |
| ROE | 32.28% |
| ROCE | 41.19% |
| Debt/Equity | 0.22 |
| EPS (Rs) | 23.77 |
| RoNW | 32.28% |
Check Gandhar Oil Refinery India IPO Peer Comparison here.
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 purchase of equipment and civil work required for (i) expansion in 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.ndhar 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