Gandhar Oil IPO is a prominent manufacturer of white oils with an increasing emphasis on the consumer and healthcare sectors. As of June 30, 2022, their product range consisted of over 350 products, primarily falling into the personal care, healthcare, and performance oils (“PHPO”), lubricants, and process and insulating oils (“PIO”) divisions, all under the “Divyol” brand.
Gandhar Oil products serve as ingredients for prominent Indian and global companies involved in manufacturing end products across various sectors, including consumer, healthcare, automotive, industrial, power, and the tire and rubber industries. As of June 30, 2022, their products were distributed in over 100 countries worldwide. In the Financial Year 2022, they served more than 3,500 customers, including renowned Indian and global companies like Procter & Gamble (“P&G”), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami, and Amrutanjan Healthcare. This was facilitated by their global supplier network and manufacturing operations in India and the UAE.
Gandhar Oil IPO Timeline
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 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 |
About the Issue
Gandhar Oil Refinery India IPO is a book-built issue amounting to Rs 500.69 crores. The issue consists of a fresh issue of 1.79 crore shares, totaling Rs 302.00 crores, and an offer for sale of 1.18 crore shares, aggregating to Rs 198.69 crores.
The subscription for Gandhar Oil IPO opens on November 22, 2023, and closes on November 24, 2023. The allotment is expected to be finalized on Thursday, November 30, 2023. Gandhar Oil Refinery India IPO is set to list on BSE and NSE, with the tentative listing date fixed as Tuesday, December 5, 2023.
The price band for Gandhar Oil Refinery India IPO is established at ₹160 to ₹169 per share. The minimum lot size for an application is 88 shares, requiring a minimum investment of ₹14,872 for retail investors. For sNII, the minimum lot size investment is 14 lots (1,232 shares), amounting to ₹208,208, and for bNII, it is 68 lots (5,984 shares), totaling ₹1,011,296.
ICICI Securities Limited and Nuvama Wealth Management Limited are the book running lead managers for the Gandhar Oil IPO, while Link Intime India Private Ltd serves as the registrar for the issue.
Objects of the Issue
The investment in Texol will be in the form of a loan to facilitate the repayment or pre-payment of a loan facility obtained by Texol from the Bank of Baroda. Additionally, the capital expenditure will involve the purchase of equipment and civil work to achieve the following objectives:
- Expansion of automotive oil capacity at the company’s Silvassa Plant.
- Expansion of petroleum jelly and associated cosmetic product division capacity at the company’s Taloja Plant.
- Expansion of white oils capacity by installing blending tanks at the company’s Taloja Plant.
The funds will also be allocated to meet the working capital requirements of the company and for general corporate purposes.
Gandhar Oil Financials (Rs crore)
| 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 |
Company Promoters
- Mr Ramesh Babulal Parekh
- Mr Samir Ramesh Parekh
- Mr Aslesh Ramesh Parekh
Gandhar Oil IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: gandharoil.ipo@linkintime.co.in
Website: https://linkintime.co.in/
Gandhar Oil IPO Allotment Status Check
Check Gandhar Oil IPO allotment status on Linkintime website allotment URL. Click Here
Gandhar Oil IPO Lead Managers aka Merchant Bankers
- ICICI Securities Limited
- Edelweiss Financial Services Ltd
Company Address
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 IPO FAQs
What is Gandhar Oil IPO?
Gandhar Oil IPO is a main-board IPO. They are going to raise ₹501 Crores via IPO. The issue is priced at ₹160 to ₹169 pr equity share. The IPO is to be listed on BSE & NSE.
When Gandhar Oil IPO will open?
The IPO is to open on November 22, 2023 for QIB, NII, and Retail Investors.
What is Gandhar Oil IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
How to Apply the Gandhar Oil IPO through Zerodha?
Steps to apply in Gandhar Oil Refinery India IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the ‘Gandhar Oil Refinery India IPO’ row and click the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.