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Gandhar Oil Refinery IPO: The Initial Public Offer (IPO) of Gandhar Oil Refinery (India) has closed. The IPO received 64.07 times subscription on the last day. According to NSE data, Rs. 500.69 crore under the IPO, 2,12,43,940 shares have been offered. In comparison, bids were received for 1,36,09,99,464 shares. Thus the issue has received 15.25 times subscription. The non-institutional investor category received 62.23 times subscription. While in the case of retail individual investors, the subscription was 28.95 times and in the category of eligible institutional buyers, the subscription was 129 times.
Let us tell that in the IPO, up to Rs 302 crore new shares and 1,17,56,910 shares are under Offer for Sale (OFS). At the same time, Gandhar Oil Refinery (India) Limited on Tuesday raised Rs. A little over 150 crore was collected.
Demand in Gray Market: The issue price for the IPO was fixed at Rs 160-169 per share. Also it has received a strong response in the gray market. Its gray market premium is Rs. is 75. Thus, the share Rs. 244 is likely to be listed. This implies a premium of 44.38% over the issue price.
Who are Anchor Investors: According to a filing with the exchanges, Gandhar Oil Refinery had allotted shares to a total of 16 anchor investors. They include Morgan Stanley, Societe Generale, Copthal Mauritius Investments, ICICI Prudential Mutual Fund, HDFC Mutual Fund, WhiteOak Capital, Ashoka India Equity Investment Trust, Aditya Birla Sun Life Insurance Company and SBI General Insurance Company.