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Gandhar Oil Refinery IPO: Gandhar Oil Refinery (India) Limited Rs. 500.69 crore at an issue price for its initial public offering (IPO). The issue price of this IPO was fixed at Rs 160-169 per share. If we look at the gray market premium, the IPO listing at Rs. Can cross 200. In fact, the gray market premium is Rs 47 or 27.81%. In this way the share can be listed at 216 rupees.
When will the IPO open: The company said the IPO will open on November 22 and close on November 24. Investors can bid for a minimum of 88 equity shares. In IPO Rs. 302 crore in fresh issue of equity shares and by the promoter and existing shareholders of Rs. 1.17 crore including Offer for Sale (OFS). Those offering shares in OFS included the promoters – Ramesh Babulal Parekh, Kailash Parekh and Gulab Parekh – and other shareholders, Fleet Line Shipping Services LLC, Denver Building Mat & Decor TR LLC and Green Desert Real Estate Brokers.
Let us tell you that this will be the third major IPO after Indian Renewable Energy Development Agency i.e. IREDA and Tata Technologies which will open next week. Nuwama Wealth Management (formerly known as Edelweiss Securities) and ICICI Securities are the book-running lead managers of the IPO. Gandhar Oil is a leading white oil company focused on the refinery, consumer and healthcare industries.