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Gandhar Oil IPO: The Initial Public Offering (IPO) of Gandhar Oil Refinery (India) was fully subscribed within hours of opening. According to NSE data till noon, Rs. 500.69 crore IPO offer received bids for 2,96,40,864 shares against 2,12,43,940 shares. This fetched him 1.40 times the subscription.
Profit Signals in Gray Market: In IPO Rs. 302 crore comprising fresh issue and offer for sale of 1,17,56,910 equity shares. The IPO will be open till Friday. For this, the issue price has been fixed at Rs 160-169 per share. As for the gray market, this IPO fetched a premium of Rs 73. Accordingly, an IPO of Rs. 242 is expected to be listed. This is a premium of over 43%.
How much money is needed: Talking about the lot size of the IPO, one lot will consist of 88 shares. A retail investor will need a minimum of ₹14872 (₹169 x 88) to apply for this IPO. Gandhar Oil Refinery (India) Ltd on Tuesday received from anchor investors Rs. Collected more than 150 crores.
Gandhara Oil is a leading manufacturer of white oils with a focus on the consumer and health care industries. Its product suite includes more than 350 products under the Diviol brand primarily in personal care, health care and process and insulating eyepieces segments.