GANDHAR OIL REFIRNERY IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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GANDHAR OIL REFIRNERY Limited IPO GMP

The Gandhar Oil Refinery India IPO, valued at Rs 500.69 crores, is a book-built issue. It comprises a fresh issue of 1.79 crore shares, totaling Rs 302.00 crores, and an offer for sale of 1.18 crore shares, amounting to Rs 198.69 crores.

The IPO bidding for Gandhar Oil Refinery India commenced on November 22, 2023, concluding on November 24, 2023. Allotment results were confirmed on Tuesday, November 28, 2023. Subsequently, the company's shares were listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on November 30, 2023.

The IPO price range for Gandhar Oil Refinery India is ₹160 to ₹169 per share, with a minimum lot size of 88 shares. Retail investors need to invest a minimum of ₹14,872. For sNII, the minimum investment is 14 lots (1,232 shares) totaling ₹208,208, while for bNII, it is 68 lots (5,984 shares) amounting to ₹1,011,296.

ICICI Securities Limited and Nuvama Wealth Management Limited serve as the book running lead managers for the Gandhar Oil Refinery India IPO, with Link Intime India Private Ltd appointed as the registrar for the offering.

Objective of IPO.

The issue is a mix of both Offer for sale and Fresh issue:

Offer for sale: INR 198.69 Cr. (11756910 shares)

Fresh Issue: INR 302 Cr.

The use of fresh proceeds will be done in the following manner:

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 expansion in capacity of automotive oil at our Silvassa Plant.
Funding working capital requirements of our Company.
General corporate purposes.