IPO

Gandhar Oil Refinery India Limited IPO

Mainboard

Lubricants

Listed On: Nov 30, 2023 at ₹ 298.0(NSE)

₹ 14872 /88 Shares

Check Allotment

22 Nov, 2023

Open Date

24 Nov, 2023

Close Date

29 Nov, 2023

Allotment Date

30 Nov, 2023

Listing Date
Price Summary

Last Closing

145.54 (-13.88%)

52 Week High

229.99

52 Week Low

120.56

Last Update

19-Dec-2025 3:30 PM
Gandhar Oil Refinery India Limited IPO Issue Details
  • Issue Price ₹160-169 per equity share
  • Face Value ₹2 Per Equity Share
  • Issue Price Total ₹500.69 Cr :
    #Fresh Issue : 17,869,822 shares(aggregating up to ₹302.00 Cr) +
    #OFS : 11,756,910 shares of ₹2(aggregating up to ₹198.69 Cr)
  • Listing at BSE, NSE
  • List Price 298.0(NSE)
  • Listing Date 2023-11-30
  • Lead Manager Edelweiss Financial Services Ltd
    ICICI Securities Limited
  • Registrar Link Intime India Private Ltd
Gandhar Oil Refinery India Limited IPO Details
  • Retail Portion 35% (Number of Retail Applications: 1,17,834 Approx),
    (Number of S-HNI Applications : 1,202 Approx),
    (Number of B-HNI Applications : 2,405 Approx)
Gandhar Oil Refinery India Limited IPO Documents
DRHP
RHP
ANCHOR
Gandhar Oil Refinery India Limited IPO Details


The IPO of Gandhar Oil Refinery India Limited is priced at ₹160-169 per equity share, which has a face value of ₹2 Per Equity Share each, IPO bidding starts from Nov 22, 2023 and ends on Nov 24, 2023. The allotment for Gandhar Oil Refinery India Limited IPO will be finalized on Nov 29, 2023. Gandhar Oil Refinery India Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Nov 30, 2023. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

The book-running lead manager for the IPO is/are Edelweiss Financial Services Ltd, ICICI Securities Limited.


The Gandhar Oil Refinery India Limited IPO sets its price band at 160-169 for each share. A single application for Gandhar Oil Refinery India Limited IPO must contain at least 88 shares.

Read More
Gandhar Oil Refinery India Limited IPO Subscription Analysis And Details
Retail
28.95x
QIB
129.00x
NII
62.23x
bNII
59.89x
sNII
66.90x
Total
64.07x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 5,925,346 4,444,010
2,962,673    1,481,337 		10,369,356 20,738,712
Day 1 22-11-23 05:00 PM
1.35 x 7.70
5.84 x   11.43 x 		6.91 x 5.53 x
Day 2 23-11-23 05:00 PM
3.14 x 26.24
21.77 x   35.18 x 		17.27 x 15.27 x
Day 3 24-11-23 05:00 PM
129.00 x 62.23
59.89 x   66.90 x 		28.95 x 64.07 x
Total No of Applications
2,826,431
Subscription on the basis of Applications
23.99
Gandhar Oil Refinery India Limited Valuations
Earnings Per Share (EPS) ₹23.77/-
P/E Ratio 6.16
RoNW 32.28%
Net Asset Value (NAV) - As on 31.03.23 ₹95.03
Gandhar Oil Refinery India Limited Company Financials
In Crs.
In Cr.
31-Mar-23 31-Mar-21 31-Mar-20 31-Mar-19
Assets 1,613.44 1,097.70 N/A N/A
Revenue 4,101.79 2,069.58 N/A N/A
Profit After Tax 213.18 161.14 N/A N/A
About Gandhar Oil Refinery India Limited Company

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.

Read More
Gandhar Oil Refinery India Limited - Promoter(s)

Mr Ramesh Babulal Parekh

Mr Samir Ramesh Parekh

Mr Aslesh Ramesh Parekh

Pre Issue Share Holding : 87.50%

Post Issue Share Holding : 64.63%

Gandhar Oil Refinery India Limited IPO - Issue Objectives
1

he 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.

2

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

3

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

4

Funding working capital requirements of the Company

5

General corporate purposes

Gandhar Oil Refinery India Limited IPO - Anchor Investors

Gandhar Oil Refinery IPO: Investors mop up Rs 150 crore via anchor book.

As per the filing to exchanges, Gandhar Oil Refinery has allocated shares to a total of 16 anchor investors, including Morgan Stanley, Societe Generale, Copthall Mauritius Investment, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Whiteoak Capital, Ashoka India Equity Investment Trust, Turnaround Opportunities Fund, Aditya Birla Sun Life Insurance Company, and SBI General Insurance Company.

Gandhar Oil Refinery India Limited IPO - Peers Comparison
P/B Ratio P/E Ratio RoNW Revenue(in Cr.)
Gandhar Oil REfinery 1.67 7.76 32.3% 4,101
Savita Oil Technologies 1.50 13.7 16.1% 3,629
Apar Industries 9.01 28.3 32.3% 14,352
Panama Petrochem 1.82 9.55 27.1% 2,249
Galaxy Surfactants 4.96 28.8 22.1% 4,443
Privi Speciality Chem 5.91 227 2.80% 1,634
Rossari Biotech 4.10 34.3 12.4% 1,656
Fairchem Organics 5.71 52.6 17.7% 648