November 28, 2023
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Gandhar Oil Refinery IPO GMP today Details @ Chanakyanipothi.com
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Why apply Gandhar Oil Refinery IPO Post Listing Review?
The Scrip is listed at Rs. 295.40 much higher the expectations of the grey market
What is the latest GMP of Gandhar Oil Refinery IPO?
Premium: Rs.73
Retail
Kostak Rs. 400
Subject to Rs. 3300
SHNI
Kostak Rs. 2400
Subejct to Rs. 70000
BHNI
Kostak Rs. 5000
Subject to Rs. 70000
Gandhar Oil Refinery IPO Anchor Subscription:
Gandhar Oil Refinery (India) Limited raises Rs 150 crore from 16 anchor investors at the upper price band of Rs 169 per equity share.
Gandhar Oil Refinery (India) IPO Subscriptions:
On 24 November 2023 @ 5.00 (Day 3) (Closed)
Review: subscription trend has improved now
QIB: 5927984 Shares 129.00 T
NII(10L+): 3063191 Shares 59.89 T
NII (<10L) 1531596 Shares 66.90 T
NII (Total) 4594787 Shares 62.23 T
RII: 10721169 Shares 28.95 T
Total: 21243940 Shares 64.06 T
Bids of Rs. 23010 Crores
Gandhar Oil Refinery (India) IPO Promoters
MR. RAMESH BABULAL PAREKH, MR. SAMIR RAMESH PAREKH AND MR. ASLESH RAMESH PAREKH
Gandhar Oil Refinery (India): Company Details
The Company is a leading manufacturer of white oils by revenue with a growing focus on the consumer and healthcare end-industries. As of June 30, 2022, its product suite comprised over 350 products primarily across the personal care, healthcare and performance oils, lubricants and process and insulating oils divisions under the “Divyol” brand. Its products are used as ingredients by leading Indian and global companies for the manufacture of end products for the consumer, healthcare, automotive, industrial, power and tyre and rubber sectors. The white oil market is the fastest growing segment in the specialty oils sector and the Company is India’s largest manufacturer of white oils by revenue in Financial Year 2022, including domestic and overseas sales and is one of the top five players globally in terms of market share in the calendar year 2021.
Its pro forma consolidated revenue from operations grew at a CAGR of 49.68% between the Financial Years 2020 and 2022, which according to the CRISIL Report, was the highest CAGR among selected specialty oil peers and second highest CAGR growth among selected specialty chemical peers.
As of June 30, 2022, its products were sold in over 100 countries across the globe. It catered to over 3,500 customers in the Financial Year 2022, including leading Indian and global companies such as Procter & Gamble, Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami and Amrutanjan Healthcare, supported by the global supplier base and manufacturing operations in India and UAE.
For more information, click www.gandharoil.com
Objects of the IPO
The Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
1. Investment in Texol by way of a loan for financing the repayment/pre-payment of a loan facility availed by Texol from the Bank of Baroda
2. Capital expenditure through purchase of equipment and civil work required for (i) expansion in capacity of automotive oil at its Silvassa Plant; (ii) expansion in capacity of petroleum jelly and accompanying cosmetic product division at its Taloja Plant; and (iii) expansion in capacity of white oils by installing blending tanks at its Taloja Plant
3. Funding working capital requirements of the Company
| Gandhar Oil Refinery (India) IPO Details | |
| IPO opens on | 21 November,2023 |
| IPO closes on | 23 November,2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 29626732 Sh /Rs 500.69 Cr |
| * Fresh Issue | 17869,822 Sh/Rs. 302Cr |
| * Offer for Sale | 11756910 Sh /Rs 198.69 Cr |
| Face Value per share: | Rs. 2 |
| Price Band | Rs. 160-169 |
| Employee discount | Rs. (?) per share |
| Retail Lot Size | (?) Shares |
| Listing will at | BSE, NSE |
| Shares offered to | Shares | Rs. |
| QIB (50 %) | 14813366 | 250.35 Cr |
| NII (15 %) | 4444010 | 75.10 Cr |
| RII (35 %) | 10369356 | 175.24 Cr |
| Employees | – | – |
| Total Shares | 29626732 | 500.69 |
| Retail portion will be oversubscribed by | 117834 Forms | |
| How much Shares to Apply? | Rs. | |
| Min Retail Application | 88 Sh | 14,872 |
| Max Retail Application | 1144 sh | 193,336 |
| Small HNI (Min) application | 1232 Sh | 208,208 |
| Small HNI (Max) application | 5896 sh | 996,424 |
| Big HNI Application | 5984 sh | 1011,296 |
| Gandhar Oil Refinery IPO Tentative timetable | |
| IPO opens on. | 22 November,2023 |
| IPO Closes on | 24 November,2023 |
| IPO Allotment on | 30 November,2023 |
| Unblocking of ASBA | 1 December,2023 |
| Credit of Shares | 4 December,2023 |
| Listing on | 5 December,2023 |
| Registered Office of Gandhar Oil Refinery | |
| 18th floor, DLH Park, S.V. Road, Goregaon (W), Mumbai 400 062, Maharashtra, India | |
| IPO Lead Managers Edelweiss Financial Services Limited, ICICI Securities Limited |
|
| Registrar to IPO | |
| Link Intime India Private Limited |
| Gandhar Oil Refinery IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Cr | Rs. | % | |
| 2019-20 | 2517 | 14.08 | 1.23 | 2.87 |
| 2020-21 | 2242 | 98.49 | 12.52 | 25.33 |
| 2021-22 (9M) | 3569 | 160.07 | 18.40 | 32.53 |
| Book Value of the Share on | 31.03.2022 | Rs.70.03 | ||
| Book Value of the Share | after the IPO | Rs. | ||
| Offer Price | Rs. – | |||
| Ratio Analysis | |
| Upper Price Band/last EPS | – |
| Upper offer price/Book Value Ratio | – |
| Upper offer price/BV after IPO Ratio | – |
Gandhar Oil Refinery IPO grey market premium
Peer Comparison
| As on date of DRHP | Total Income Rs. | Face | PE |
| Income | Value | Ratio of | |
| Rs. In Cr | Rs | ||
| The IPO Company | 3543 | 2 | (?) |
| Savita Oil Technology | 2938 | 2 | 8.25 |
| Apar Industries | 9320 | 10 | 25.71 |
| Panama Petrochem | 2132 | 2 | 9.45 |
| Privi Speciality | 1404 | 10 | 47.21 |
| Fairchem Organics | 643 | 10 | 25.35 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
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