Gandhar Oil Refinery (India) is set to launch an IPO which will open on November 21, 2023, and close on November 23, 2023. Through this public offer the company wants to raise Rs. 500 Crore from the primary market, Company fixed the price band of Rs. ….. with a minimum lot of 1…..shares, and listed on December 04, according to the preliminary papers filed to the capital market regulator SEBI.
About Gandhar Oil Refinery (India) Company
Gandhar Oil Refinery (India) (1992) is engaged in manufacturing of white oil, the company has over 350 products primarily in personal care, health and performance oils, lubricants and process, etc under the flagship of DIVYOL brand.
The company is one of the leading manufacturers of white oil by revenue in 2022 and among the top five global leaders in terms of market share in 2021.
Gandhar Oil Refinery (India) IPO Object
The objects of which the net proceeds from the fresh issue shall be utilized are as follows:
- Capital Expenditure through purchase of equipment and civil work
- Funding working capital requirement of the company
- General Corporate Purposes and issue expenses.
Gandhar Oil Refinery (India) Strength
- Leading market share in Indian white oil market
- Extensive and diversified customer base
- Strategically located manufacturing and in house R & D Capabilities.
- Flexible and scalable business model.
- Track record of consistent financial performance
Gandhar Oil Refinery (India) Risk Factor
- Company depend significantly on personal care, health and performance oil division business
- Inability to effectively manage the growth and expansion of business plans.
- Exposed to counterparty credit risk etc.
Gandhar Oil Refinery (India) IPO Review & Rating
| Issue Size (Rs.) | coming soon |
| Issue Price (Rs.) | coming soon |
| Minimum Lot Size | coming soon |
| Total Profit (March 2022) (Rs.) | 167.9 crore |
| RoCE (%) | 32.53% |
| NAV (Rs.) | 70.03 |
| Listing on | BSE and NSE |
| IPO Deliver Rating | Six |
Gandhar Oil Refinery (India) IPO Dates, Price Band & Details
Gandhar Oil Refinery (India) IPO will open on November 21, 2023, and close on November 23, 2023. The IPO list on December 04, 2023.
| Type of issue | Book Built Issue IPO |
| Issue Size (Rs.) | coming soon |
| Face Value (Rs.) | 2/- per share |
| IPO Open Date | 21 November 2023 |
| IPO Close Date | 23 November 2023 |
| IPO Allotment Date | 29 November 2023 |
| Refund Date | 30 November 2023 |
| Share Credit Date | 01 December 2023 |
| Listing Date | 04 December 2023 |
Gandhar Oil Refinery (India) IPO Offer
Gandhar Oil Refinery (India) IPO total issue size is coming soon shares which comprises below mentioned categories.
| Offer Category | Shares Offer | Amount (Rs.) |
| Fresh Issue | coming soon | 357 crore |
| Offer for Sale (OFS) | 12,036,380 | 143 crore |
Gandhar Oil Refinery (India) Financials Review (million)
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2022, 2021, and 2020.
| Category (Rs.) | March 31, 2022 | March 31, 2021 | March 31, 2020 |
| Total Revenue | 33,890 | 20,636 | 15,127 |
| Net Worth | 5,602.16 | 3,754.26 | 2,190.12 |
| Profit | 1,679.21 | 1514.22 | 503.85 |
| Total Borrowings | 1581.19 | 1,767.76 | 2,069.10 |
Gandhar Oil Refinery (India) IPO Quantitative Factors
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2022, 2021, and 2020.
| Category | March 31, 2022 | March 31, 2021 | March 31, 2020 |
| EPS (Rs.) | 18.40 | 12.52 | 1.23 |
| RoNW (%) | 32.53 | 25.23 | 2.87 |
| NAV (Rs.) | 70.03 | – | – |
Gandhar Oil Refinery (India) IPO Peer Comparison (Top 2)
There are listed companies in India that are comparable in all aspects of business.
| Company Names | EPS (Rs.) | RoNW (%) | NAV (Rs.) |
| Savita Oil | 37.62 | 22.45 | 182.04 |
| Panama Petro. | 38.08 | 34.66 | 126.99 |
Gandhar Oil Refinery (India) Company Promoters
As per the DRHP and RHP, the company has three Promoters.
| Serial No. | Name |
| 01. | Mr. Ramesh Babulal Parekh |
| 02. | Mr. Samir Ramesh Parekh |
| 03. | Mr. Aslesh Ramesh Parekh |
Gandhar Oil Refinery (India) Pre-offer and Post-Offer Promoters Shareholding
| Promoter and promoter group Shareholding | Percentage (%) |
| Pre-Issue | 87.50% |
| Post- Issue | – |
Gandhar Oil Refinery (India) IPO Reservation
Gandhar Oil Refinery (India) IPO total reservation shares distributed between the below-mentioned categories.
| Category | No. of Shares |
| QIB Share Offered | 50% of the issue size |
| Retail Share Offered | 35% of the issue size |
| NII (HNI) Share Offered | 15% of the issue size |
Gandhar Oil Refinery (India) IPO – Market Lot Size
An individual investor can apply for a minimum of 1 lot of ….. Shares and a maximum of … lot of ….. shares. Market lot sizes for retail investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
| Retail Minimum | coming soon | – | – |
| Retail Maximum | coming soon | – | – |
Gandhar Oil Refinery (India) IPO – Prospectus
An investor can download/view the Gandhar Oil Refinery (India) prospectus copy, which was filed by the company to SEBI, details are as follows.
| Gandhar Oil Refinery (India) IPO Prospectus | Download/View Links |
| Draft Red Herring Prospectus (DRHP) | Click here |
| Red Herring Prospectus (RHP) | Click here |
Gandhar Oil Refinery (India) IPO Registrar
Link Intime India Private Limited
Tel No.: +91-810 811 4949
E-Mail: gandharoil.ipo@linkintime.co.in
Website: www.inkintime.co.in
Gandhar Oil Refinery (India) IPO lead manager
#1. Edelweiss Financial Services Limited
Tel No.: +91-22 400 4400
E-Mail: gandharoil@edelwissfin.com
Website: www.edelwissfin.com
#2. ICICI Securities Limited
Tel No.: +91-22 6807 7100
E-Mail: gandharoil.ipo@icicisecurities.com
Website: www.icicisecurities.com
Gandhar Oil Refinery (India) IPO Application (How to Apply for an IPO)
There are primary four options for applying for a Gandhar Oil Refinery (India) IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “Gandhar Oil Refinery (India) Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked till the allotment date and after it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “Gandhar Oil Refinery (India) Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your account or get refunded in case no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your bank account or refunded in case no allotment is made to you.
Option – 4 Apply for IPO through Stock Exchanges
NSE Form – Click to download
BSE Form – Click to download
Submit the form with your bank/broker.
Gandhar Oil Refinery (India) Company Details
Gandhar Oil Refinery (India) Ltd. (1992)
Registered Office: 18th Floor, DLH Park, S.V. Road, Goregaon West, Mumbai-400 062
Tel: +91-22 4063 5600
Email: investor@gandharoil.com
Website: www.gandharoil.com
Investor Grievances/Compliance Officer: Ms. Jayshree Soni
Gandhar Oil Refinery (India) Subsidiary Companies (Top 2)
| Serial No. | Name of Companies |
| 01. | Gandhar Shipping and Logistics Private Limited |
| 02. | – |
Gandhar Oil Refinery (India) Company Board (Top 2)
| Serial No. | Name of Directors |
| 01. | Mr. Ramesh Babulal Parekh |
| 02. | Mr. Samir Ramesh Parekh |
Gandhar Oil Refinery (India) IPO – Frequently Asked Questions (FAQ’s)
Q-1 What is Gandhar Oil Refinery (India) IPO?
Ans: Gandhar Oil Refinery (India) brings its mainboard IPO of Rs. 500 crore, on November 21, 2023, with a price band of Rs. ……. per share.
Q-2 What is Gandhar Oil Refinery (India) IPO Open date?
Ans: Gandhar Oil Refinery (India) IPO opening date is November 21, 2023.
Q-3 What is Gandhar Oil Refinery (India) IPO Close date?
Ans: Gandhar Oil Refinery (India) IPO closing date is November 23, 2023.
Q-4 What is Gandhar Oil Refinery (India) IPO Listing date?
Ans: Gandhar Oil Refinery (India) IPO listing date is December 04, 2023.
Q-5 What is Gandhar Oil Refinery (India) IPO Minimum investment amount?
Ans: Gandhar Oil Refinery (India) IPO minimum investment amount is Rs. ……..
Q-6 What is Gandhar Oil Refinery (India) IPO offer issue Size?
Ans: Gandhar Oil Refinery (India) offers an issue size of Rs. 500 Crores.
Q-7 What is Gandhar Oil Refinery (India) IPO Price Band?
Ans: Gandhar Oil Refinery (India) IPO price band is Rs ……. per share.
Q-8 Is Gandhar Oil Refinery (India) IPO mainboard IPO or SME IPO?
Ans: Gandhar Oil Refinery (India) IPO is the mainboard IPO.