Gandhar Oil Refinery IPO listing today: Check GMP, subscription details
Gandhar Oil Refinery’s IPO will be listed on the stock market on Thursday i.e November 30, 2023.
A notice issued by the Bombay Stock Exchange (BSE) states,”Effective from Thursday, November 30, 2023, the equity shares of Gandhar Oil Refinery (India) Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B ‘ Group of Securities.”
“Further the trading members may please note that the above mentioned scrip will be a part of Special Pre-open Session (SPOS) on Thursday, November 30, 2023. For further information on SPOS, the trading members are requested to refer to the Exchanges notice no. 20120216-29 dated February 16, 2012 on Enabling Special Pre-open Session for IPOs & Relisted Scrip,” the BSE notice added.
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The Gandhar Oil Refinery IPO had opened for subscriptions on November 22. Within hours of opening for bidding, it had got fully subscribed. On the final day i.e November 24, the IPO had received 64.07 times subscription. The ₹500.69 crore IPO had received bid for 1,36,09,99,464 shares against 2,12,43,940 shares on offer, as per data available with the NSE.
The IPO is a fresh issue of up to ₹302 crore and an offer for sale of up to 1,17,56,910 equity shares. The price band for the IPO is ₹160-169 a share.
Prior to the bidding process, Gandhar Oil Refinery had said it raised a little over ₹150 crore from anchor investors. The company had allotted 88.88 lakh equity shares to 16 funds at ₹169 per piece, according to a circular uploaded on the BSE’s website. The investors that participated in the anchor book include Morgan Stanley Asia (Singapore) Pte, Copthall Mauritius Investment Ltd, Societe Generale, SBI General Insurance Company, Aditya Birla Sun Life Insurance Company, ICICI Prudential Mutual Fund (MF), HDFC MF, and WhiteOak MF.
As far as the grey market premium is concerned, the shares of Gandhar Oil Refinery were trading at ₹73 in the grey market as of 8:28 am on Thursday.
Gandhar Oil Refinery is a leading manufacturer of white oils with a growing focus on the consumer and healthcare end industries.