Gandhar Oil Refinery IPO Details | GMP, Date, Price, Review

Gandhar Oil Refinery IPO Details ( Gandhar Oil Refinery India Limited IPO Review )

(22 Nov 2023 – 24 Nov 2023)

Gandhar Oil Limited is a big deal in making white oils. They make stuff for regular folks and the healthcare folks too. By June 30, 2022, they’ve got a whopping 350 products. These fall into three main types: personal care, healthcare and performance oils (PHPO), lubricants, and process and insulating oils (PIO). It all goes under the name “Divyol.”

Their products are super important ingredients for lots of different things. Think consumer goods, healthcare stuff, cars, factories, power, tires, rubber – you name it. Big-shot companies in India and around the world use their stuff.

By June 2022, these guys have reached 100 countries. They’ve made over 3500 clients happy, including big names like Procter & Gamble (“P&G”), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami, and Amrutanjan Healthcare.

Gandhar Oil Refinery India Limited IPO Competitive Strength

• Leading market share of the Indian white oils market with significant overseas sales, focused on the consumer and healthcare end-industries
• Extensive and diversified customer base and a supplier base comprised of leading oil companies with competitive pricing terms
• Strategically located manufacturing facilities and in-house R&D capabilities
• Resilient, flexible and scalable business model with prudent risk management framework
• Track record of consistent financial performance
• Experienced and qualified management team

Gandhar Oil Refinery IPO Financials Performance ( Results )

Gandhar Oil Refinery India Limited Financial Information (Restated Consolidated)

All Amount in ₹ Lakhs

Period Ended	Total Assets	Total Revenue	PAT	EPS (₹)	Net Worth	Reserves	Borrowing
31-Mar-21	1,097.70	2,069.58	161.14	12.54	375.76	355.68	176.78
31-Mar-23	1,613.44	4,101.79	213.18	23.77	760.21	719.19	169.53
30-Jun-23	1,795.57	1,071.52	54.28	5.60	810.79	763.99	335.62

Objective of Gandhar Oil Refinery India IPO Issue

The Offer consists of two components: the Fresh Issue and the Offer for Sale. The company will not receive any proceeds from the Offer for Sale, and such proceeds will not be included in the Net Proceeds. The Net Proceeds from the Fresh Issue will be allocated for the following purposes:

1. Providing a loan to Texol to finance the repayment/pre-payment of a loan obtained from the Bank of Baroda.
2. Capital expenditure, including the acquisition of equipment and undertaking civil work for: a. Capacity expansion of automotive oil at the company’s Silvassa Plant. b. Capacity expansion of the petroleum jelly and related cosmetic product division at the company’s Taloja Plant. c. Capacity expansion of white oils by installing blending tanks at the company’s Taloja Plant.
3. Meeting the working capital requirements of the Company.
4. Addressing general corporate purposes.

Gandhar Oil Refinery IPO Basic Details

IPO Date	Nov 22, 2023 to Nov 24, 2023
Listing Date	Tuesday, December 5, 2023
Face Value	₹2 per share
Price	₹160 to ₹169 per share
Lot Size	88 Shares
Issue Size	29,626,732 shares of ₹2 (aggregating up to ₹500.69 Cr)
Fresh Issue	17,869,822 shares of ₹2 (aggregating up to ₹302.00 Cr)
Offer for Sale	11,756,910 shares of ₹2 (aggregating up to ₹198.69 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE, BSE
Share holding pre issue	80,000,000
Share holding post issue	97,869,822
Company Promoters	Mr Ramesh Babulal Parekh, Mr Samir Ramesh Parekh and Mr Aslesh Ramesh Parekh

Gandhar Oil Refinery IPO Reservation

QIB Shares Offered	50% of the Net Issue
NII (HNI) Shares Offered	15% of the Net Issue
Retail Shares Offered	35% of the Net Issue

Gandhar Oil IPO Timetable

Gandhar Oil IPO will open on November 22, 2023 and close on November 24, 2023. You can join Gandhar Oil IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.

Event	Date
Opening Date	22 November 2023 (Wednesday)
Closing Date	24 November 2023 (Friday)
Basis of Allotment	30 November 2023 (Thursday)
Initiation of Refunds	1 December 2023 (Friday)
Credit of Shares to Demat	4 December 2023 (Monday)
Listing Date	5 December 2023 (Tuesday)
Deadline for UPI mandate confirmation	5 PM on 24 November 2023

Gandhar Oil Refinery IPO Lot Size

For retail investors in Gandhar Oil Refinery IPO, 88 shares will come in 1 lot or the minimum investment will be ₹14,872. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹193,336.

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

Gandhar Oil Refinery IPO Promoter Holding

The company’s promoters include Mr Ramesh Babulal Parekh, Mr Samir Ramesh Parekh and Mr Aslesh Ramesh Parekh.

Pre Issue Share Holding	87.50%
Post Issue Share Holding	64.63%

Gandhar Oil Refinery India Ltd IPO Key Performance Indicator ( Valuation )

In the table given below, all the figures have been told according to the latest financial year.

KPI	Values
Market Cap (₹ Cr.)	1654
Earning Per Share (EPS)	₹23.77 per Equity Share
Net Asset Value (NAV)	₹95.03 per Equity Share
Post P/E Ratio (P/E) (x)	6.16
Return on Net Worth (RoNW) (%)	32.28
Return on equity (ROE) (%)	32.28
Return on Capital Employed (ROCE) (%)	41.19
Debt/Equity Ratio	0.22

Gandhar Oil Refinery IPO GMP Live Update, Kostak Rate day by day

Date	GMP	Kostak	Subject to
Today	₹57	–	–
20 November 2023	₹57	–	–
19 November 2023	₹57	–	–
18 November 2023	₹52	–	–
17 November 2023	₹40	–	–
16 November 2023	₹35	–	–

Gandhar Oil Refinery IPO Detail Video:

Gandhar Oil Refinery IPO Subscription Status (Bidding Detail)

The Gandhar Oil Refinery IPO on November 24, 2023 at 7:30:00 PM was subscribed 65.63 times, with the retail category being subscribed 29.93 times, the NII (Non-Institutional Investor) category being subscribed 64.34 times, QIB (Qualified-Institutional Buyers) category being subscribed 129.06 times.

Category	Subscription
QIB	129.06x
NII	64.34x
Retail	29.93x
Total	65.63x

Gandhar Oil Refinery IPO Prospectus

Gandhar Oil Refinery IPO DRHP	Download
Gandhar Oil Refinery IPO RHP	Download
Gandhar Oil Refinery IPO Anchor Investors Details PDF	Download

Gandhar Oil Refinery IPO Rating

Our Rating

3.5/5.0

Gandhar Oil Refinery Company Contact Information

Gandhar Oil Refinery India Limited

Registered and Corporate Office: 18th floor, DLH Park, S.V. Road, Goregaon (W), Mumbai 400 062, Maharashtra, India;
Contact Person: Ms. Jayshree Soni, Company Secretary and Compliance Officer
Tel: +91 22 4063 5600
E-mail: investor@gandharoil.com
Website: www.gandharoil.com
Corporate Identity Number: U23200MH1992PLC068905
Our Promoters: Mr. Ramesh Babulal Parekh, Mr. Samir Ramesh Parekh and Mr. Aslesh Ramesh Parekh

Gandhar Oil Refinery IPO Registrar

Link Intime India Private Limited

Registered Office: C-101, 1st Floor, 247 Park L.B.S. Marg Vikhroli West
Mumbai 400 083, Maharashtra, India
Tel: +91 810 811 4949
E-mail: gandharoil.ipo@linkintime.co.in
Investor grievance e-mail: gandharoil.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact person: Shanti Gopalkrishnan
SEBI registration no.: INR000004058

Gandhar Oil Refinery IPO Lead Manager

Edelweiss Financial Services Limited

Registered Office: 6th Floor, Edelweiss House Off C.S.T. Road, Kalina
Mumbai 400 098, Maharashtra, India
Tel: +91 22 4009 4400
E-mail: GandharOil@edelweissfin.com
Investor grievance e-mail: customerservice.mb@edelweissfin.com
Website: www.edelweissfin.com
Contact person: Lokesh Shah
SEBI registration no.: INM0000010650

ICICI Securities Limited

Registered Office: ICICI Venture House Appasaheb Marathe Marg, Prabhadevi
Mumbai 400 025, Maharashtra, India
Tel: +91 22 6807 7100
E-mail: gandharoil.ipo@icicisecurities.com
Investor grievance e-mail: customercare@icicisecurities.com
Website: www.icicisecurities.com
Contact person: Ashik Joisar/Harsh Thakkar
SEBI Registration no.: INM000011179

Gandhar Oil Refinery IPO FAQs