Gandhar Oil Refinery India Limited IPO is set to launch on 22 November, 2023. The company manufactures white oils used in healthcare and consumer industries. The product portfolio of the firm consists of more than 350 products and they all are divided into 3 categories. They are Personal care, process and insulating oils and healthcare and prominence oils. The industries that are served by the firm are healthcare, consumer goods, industrial, automotive, tyre, power and rubber manufacturing sectors. Company does business in more than 100 countries and has a client base of more than 3500 customers. The mega clients of the firm include Unilever, Procter and Gamble, Dabur, Marico, Patanjali Ayurveda, Encube, Emami, Bajaj Consumer care, Amrutanjan healthcare etc.
Gandhar Oil Refinery India Limited IPO DETAILS
Gandhar Oil Refinery India Limited IPO is set to launch on 22 November, 2023. The subscription timeline extends till 24 November, 2023. The size for the IPO is 500.69 Crore Rs. Shares issued through fresh issue mode are worth Rs 302 Crore Rs. Shares issued through offer for sale mode are worth Rs 198.69 Crore. The lot size is 88 shares and the price is 160 Rs to 169 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.2 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.
Tabular Description of Gandhar Oil Refinery India Limited IPO
| IPO OPENING DATE | 22 November, 2023 |
| CLOSING DATE FOR IPO | 24 November, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 2 Rs. per share |
| IPO price band | 160 Rs. to 169 Rs. per share |
| LOT SIZE | 88 shares |
| MINIMUM ORDER QUANTITY | 88 shares |
| ISSUE SIZE | 500.69 Crore Rs. |
| OFFER FOR SALE | 198.69 Crore Rs. |
| FRESH ISSUE | 302 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 5 December, 2023 |
Gandhar Oil Refinery India Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 22 November, 2023 |
| CLOSING DATE FOR IPO | 24 November, 2023 |
| IPO ALLOTMENT DATE | 30 November, 2023 |
| REFUNDS | 1 December, 2023 |
| DEMAT A/C CREDITED ON | 4 December, 2023 |
| IPO LISTING DATE | 5 December, 2023 |
Gandhar Oil Refinery India Limited IPO begins for subscription from 22 November, 2023. The IPO subscription would continue till 24 November, 2023. The allotment status for the shareholders who applied would come on 30 November, 2023. The refunds for the ones who did not get allotment would be initiated on 1 December, 2023. The DEMAT accounts of shareholders would be credited on 4 December, 2023. The listing of the company would be completed on 5 December, 2023.
Gandhar Oil Refinery India Limited IPO : Lead Managers
The lead managers are :
- Nuvama Wealth Management Limited
- ICICI Securities Limited
The minimum lot size for the company is decided at 88 shares. This holding accounts to 14872 Rs.. The maximum lot size is decided at 1144 shares. This amounts to 193336 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 88 shares | 14946 Rs. |
| Maximum | 1144 shares | 193336 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
- The IPO money will be used for expansion in Silvassa and Taloja Plant.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2022-23 | |
| ASSETS | 1098 | 1613 | |
| Revenue | 2069 | 4101 | |
| PAT | 161 | 213 |
Gandhar Oil Refinery India Limited had an asset base of 1098 Crore Rs in the year 2021 which increased to 1613 Crore Rs in 2023. The revenue the firm was 2069 Crore Rs in 2021 which jumped to a mighty 4101 Crore Rs. The profit of the firm was 161 Crore Rs in 2021 which boosted to 213 Crore rs in the year 2023.
PROS
- The product portfolio of the firm consists of more than 350 products and they all are divided into 3 categories. They are Personal care, process and insulating oils and healthcare and prominence oils.
- The industries that are served by the firm are healthcare, consumer goods, industrial, automotive, tyre, power and rubber manufacturing sectors.
- Company does business in more than 100 countries and has a client base of more than 3500 customers.
- The mega clients of the firm include Unilever, Procter and Gamble, Dabur, Marico, Patanjali Ayurveda, Encube, Emami, Bajaj Consumer care, Amrutanjan healthcare etc.
CONS
- The company works in a highly competitive segment.
Gandhar Oil Refinery India Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Gandhar Oil Refinery India Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
