In the dynamic landscape of the stock market, IPOs often capture the attention of investors, offering a glimpse into the future potential of a company. The recent buzz surrounds Gandhar Oil Refinery India Ltd, as it gears up to go public. This article aims to provide a comprehensive overview of the Gandhar Oil IPO, exploring crucial details, market sentiments, and projections.
Certainly! Here’s the table for Gandhar Oil Refinery India IPO Details :
| Gandhar Oil Refinery India IPO Details | |
|---|---|
| IPO Date | Nov 22 – Nov 24, 2023 |
| Listing Date | 29 Nov, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹160 to ₹169 per share |
| Lot Size | 88 Shares |
| Total Issue Size | 29,626,732 shares (₹500.69 Cr) |
| Fresh Issue | 17,869,822 shares (₹302.00 Cr) |
| Offer for Sale | 11,756,910 shares of ₹2 (₹198.69 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding Pre Issue | 80,000,000 |
| Shareholding Post Issue | 97,869,822 |
| Price Range | Lot Size | Min. Investment | Bid Dates | Listing Date | GMP Yesterday | GMP Today | Expected Share Price | Expected Profit per Lot | Buy Y/N |
|---|---|---|---|---|---|---|---|---|---|
| ₹160-₹169 | 88 | ₹14,080 | Nov 22-24, 2023 | 29 Nov, 2023 | ₹76 | ₹73 | ₹242 | ₹7216 | Y |
Overview of Gandhar Oil Refinery India IPO
The Gandhar Oil Refinery India IPO, which opened for subscription on November 22, 2023, and closes on November 24, has already sparked interest among investors. The company’s stock, with a face value of ₹2 per share, is offered in a price band ranging from ₹160 to ₹169 per share. This book-building IPO combines a fresh issue of 1,78,69,822 shares and an offer for sale (OFS) of 1,17,56,910 shares.
The IPO is set to raise substantial capital, with the fresh issue portion targeting ₹302 crore, and the OFS portion aiming for ₹198.69 crore. The funds raised will be allocated for various purposes, including investing in Texol, refinancing loans, capex for equipment purchase, automotive oil capacity expansion, and the expansion of the oil and jelly facility at Taloja.
Gandhar Oil Grey Market Premium (GMP) Analysis
One of the intriguing aspects of any IPO is the Grey Market Premium (GMP), an informal gauge of demand and supply. The GMP for Gandhar Oil Refinery India Ltd has been dynamic, reflecting market sentiments in the days leading up to the IPO opening:
| Date | GMP |
|---|---|
| 23-Nov-2023 | ₹73 |
| 22-Nov-2023 | ₹76 |
| 21-Nov-2023 | ₹61 |
| 20-Nov-2023 | ₹56 |
| 19-Nov-2023 | ₹55 |
| 18-Nov-2023 | ₹55 |
| 17-Nov-2023 | ₹46 |
| 16-Nov-2023 | ₹50 |
| 15-Nov-2023 | ₹50 |
| 14-Nov-2023 | ₹48 |
| 13-Nov-2023 | ₹42 |
The GMP, which started at ₹73, witnessed fluctuations but settled at ₹46 on the upper end of the price band. This suggests a listing premium of approximately 27.22%, indicating a potential listing price of around ₹215 per share on December 5, 2023.
Subscription and Lot Sizes of Gandhar Oil
Investors keen on participating in the Gandhar Oil IPO need to understand the lot sizes and subscription details. The table below outlines the lot sizes for different investor categories:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 88 | ₹14,872 |
| Retail (Max) | 13 | 1,144 | ₹1,93,336 |
| S-HNI (Min) | 14 | 1,232 | ₹2,08,208 |
| S-HNI (Max) | 67 | 5,896 | ₹9,96,424 |
| B-HNI (Min) | 68 | 5,984 | ₹10,11,296 |
For the Business High Net Worth (B-HNI) and Qualified Institutional Buyer (QIB) categories, there are no upper limits.
Gandhar Oil Quota Allocation Across IPO Investor Categories
Understanding the allocation of shares across investor categories provides insights into the distribution strategy. For the Gandhar Oil IPO, the allocation is as follows:
| Category of Investors | Allocation of shares |
|---|---|
| QIB | 50.00% |
| NII (HNI) | 15.00% |
| Retail | 35.00% |
The total IPO issue size is 2,96,26,732 shares, with the QIBs getting 50%, retail investors 35%, and HNI/NII investors receiving 15%.
Company Profile and Offer Details of Gandhar Oil
Gandhar Oil Refinery India is a leading producer of white oils, catering to diverse markets, including consumer and healthcare. As of June 30, 2023, the company’s product suite under the “Divyol” brand comprised over 440 items. With a global presence in more than 100 countries, Gandhar Oil serves over 3,500 customers, including prominent names like Procter & Gamble, Unilever, and Marico.
The IPO, managed by Nuvama Wealth Management and ICICI Securities Ltd, comprises a fresh issue of ₹302 crore and an OFS of ₹198.69 crore. The promoters, along with early investor shareholders, will divest their shares through the OFS.
Gandhar Oil Financial Performance and Industry Peers
Gandhar Oil Refinery India has showcased robust financial performance, with operating revenue increasing from ₹3,543.3 crore in FY22 to ₹4,079.4 crore in FY23, a 15.13% rise. The profit after tax also saw a significant uptick, rising by 30.3% to ₹213.17 crore.
Comparing the company’s performance with industry peers provides a broader perspective:
- Savita Oil Technologies Ltd (P/E ratio of 10.84)
- Apar Industries Ltd (P/E ratio of 29.96)
- Panama Petrochem Ltd (P/E ratio of 7.96)
- Galaxy Surfactants Ltd (P/E ratio of 24.16)
- Privi Speciality Chemicals Ltd (P/E ratio of 222.13)
- Rossari Biotech Ltd (P/E ratio of 40.73)
- Fairchem Organics Ltd (P/E ratio of 32.74)
Key Takeaways and Future Prospects of Gandhar Oil
As investors eagerly await the subscription numbers post-IPO opening on November 22, the GMP provides a preliminary indication of market sentiments. The estimated listing premium of 27.22% signals optimism, but the dynamic nature of the stock market emphasizes the need for vigilance.
The IPO allotment basis is expected to be finalized on November 30, with refunds initiated on December 1. Demat credits are projected for December 4, and the stock is set to list on December 5, 2023, on both the NSE and BSE.
In conclusion, the Gandhar Oil Refinery India IPO presents an exciting opportunity for investors, backed by the company’s global presence, robust financials, and the potential for future growth. However, investors should conduct thorough due diligence, closely monitor subscription trends, and stay informed about market dynamics.
Gandhar Oil Frequently asked questions:
Gandhar Oil Refinery (India) Limited IPO:
- The Gandhar Oil Refinery (India) Limited IPO is set to open for subscription from November 22 to November 24, 2023. It has generated significant interest among investors, and the company is gearing up to go public.
Gandhar Oil IPO Date:
- The Gandhar Oil IPO is scheduled to be open for subscription from November 22 to November 24, 2023.
Oil Refinery Stocks in India:
- Notable oil refinery stocks in India include Indian Oil Corporation Limited (IOCL), Reliance Industries Limited (RIL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL).
How Many Oil Refineries Does Iran Have?
- The number of oil refineries in Iran can change, and the latest information should be checked for accuracy. As of my last knowledge update in January 2022, Iran has multiple oil refineries.
Does Iran Have Oil Refineries?
- Yes, Iran has multiple oil refineries that play a crucial role in processing crude oil and producing various refined products.
Gandhar Oil Refinery India Ltd IPO:
- The Gandhar Oil Refinery India Ltd IPO involves a price band of ₹160 to ₹169 per share, with a lot size of 88 shares. The IPO includes a fresh issue of 17,869,822 shares and an offer for sale (OFS) of 11,756,910 shares.
Gandhar Oil IPO:
- The Gandhar Oil IPO is generating interest among investors, and it offers shares in the price band of ₹160 to ₹169 per share.
Gandhar Oil Refinery (India) Limited Zauba:
- Information about Gandhar Oil Refinery (India) Limited on Zauba, a business information platform, can be found on the Zauba website.
Gandhar Oil Refinery India Ltd Zauba:
- Information about Gandhar Oil Refinery India Ltd on Zauba, a business information platform, can be found on the Zauba website.
Gandhar Oil Refinery India Limited:
- Please check the latest financial news or the official website of the company for information on Gandhar Oil Refinery India Limited.
Gandhar Oil Refinery India Ltd Share Price:
- For the current share price of Gandhar Oil Refinery India Ltd, please check financial news websites, stock market apps, or the official stock exchange website.
Gandhar Oil Refinery India Ltd Turnover:
- Information about the turnover of Gandhar Oil Refinery India Ltd can be found in the company’s financial statements or reports, typically available on their official website.
Indian Refinery Lawrenceville Illinois:
- I couldn’t find specific information about an Indian Refinery in Lawrenceville, Illinois. It’s possible that the term might refer to a different entity or location.
Indian Refining Company:
- Information about Indian Refining Company would depend on the specific company in question. Please provide more details for accurate information.
Indian Gasoline:
- Indian gasoline refers to the gasoline (petrol) produced and used in India. Gasoline is a key component of the country’s energy consumption and transportation sector.
Gandhar Oil Refinery India Ltd LinkedIn:
- You can find information about Gandhar Oil Refinery India Ltd on LinkedIn by visiting the company’s official LinkedIn page.
Gandhar Oil Refinery India Ltd:
- Please check the latest financial news, the official website of the company, or stock market platforms for the most up-to-date information on Gandhar Oil Refinery India Ltd.
Gandhar Oil Refinery:
- Gandhar Oil Refinery is a company involved in the refining and production of oils. For specific details, refer to the latest financial reports or the company’s official communications.
Gandhar Oil Refinery India Ltd Taloja:
- Taloja is a location associated with Gandhar Oil Refinery India Ltd. For specific information about their operations in Taloja, refer to the company’s official communications.
Yangarra Oil:
- Yangarra Oil is not directly associated with Gandhar Oil Refinery India Ltd. It might be a separate entity. Please provide more context for accurate information.
ZNOG Oil and Gas:
- ZNOG (Zion Oil & Gas) is an independent oil and gas exploration company. It is not directly associated with Gandhar Oil Refinery India Ltd.
Gandhar Oil Refinery India Ltd Credit Rating:
- Credit ratings for Gandhar Oil Refinery India Ltd can be obtained from credit rating agencies like CRISIL, CARE, or ICRA. Check their official websites for the latest credit rating information.
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Disclaimer
This information serves only as a guide