Gandhar Oil Refinery India IPO

Gandhar Oil Refinery India IPO will open for subscription from 21 November 2023. The company aims for an issue size of ₹500 Cr through this IPO.

Company Overview

Full nameGandhar Oil Refinery India Limited
SectorAutomobiles & Ancillaries
Company Website

About Company

Gandhar Oil Refinery is a leading manufacturer of white oils by revenue with a growing focus on the consumer and healthcare end industries. As of 30 June 2022, its product suite comprised over 350 products primarily across the personal care, healthcare, and performance oils (PHPO), lubricants, and process and insulating oils (PIO) divisions under the ‘Divyol’ brand.

The products are used as ingredients by leading Indian and global companies to manufacture end products for the consumer, healthcare, automotive, industrial, power, tyre, and rubber sectors. The company’s pro forma consolidated revenue from operations grew at a CAGR of 49.68% between the FY 2020 and 2022, which was the highest CAGR among selected specialty oil peers, and second highest CAGR growth among selected specialty chemical peers.

As of 30 June 2022, its products were sold in over 100 countries across the globe. Gandhar Oil catered to over 3,529 customers in the FY 2022, including leading Indian and global companies such as Procter & Gamble (P&G), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami, and Amrutanjan Healthcare, supported by our global supplier base and manufacturing operations in India and UAE. The product categories and primary end-industries for its three main business divisions are as follows:

  • Personal Care, Healthcare, and Performance Oils (PHPO)
  • Lubricants
  • Process and Insulating Oils (PIO)

The Objectives of the Issue

  • Expansion in capacity of automotive oil at the company’s Silvassa Plant;
  • Expansion in the capacity of petroleum jelly and accompanying cosmetic product division at the company’s Taloja Plant;
  • Expansion in the capacity of white oils by installing blending tanks at the company’s Taloja Plant;
  • Funding working capital requirements of the Company;
  • General corporate purposes.

Gandhar Oil Refinery India IPO Timetable

IPO Opening date22 November 2023
IPO Closing24 November 2023
Basis of Allotment30 November 2023
Initiation Refund01 December 2023
Credit to Demat Account04 December 2023
Listing Date05 December 2023
(Cut-off time for UPI mandate confirmation – 5 PM on November 24, 2023)

Gandhar Oil Refinery India IPO details

Issue typeBook Built Issue IPO
IPO issue size₹500.69 Cr – 29,626,732 shares
Fresh Issue₹302.00 Cr – 17,869,822 shares
Offer for sale₹198.69 Cr – 11,756,910 shares
Face value₹2 per share
Price Band ₹160 to ₹169 per share
Lot size88 Shares
Shareholding pre-issue80,000,000
Shareholding post-issue97,869,822
Listing ExchangeBSE & NSE

Gandhar Oil Refinery India IPO Lot Size

Retail (Min)188₹14,872
Retail (Max)131144₹193,336
S-HNI (Min)141,232₹208,208
S-HNI (Max)675,896₹996,424
B-HNI (Min)685,984₹1,011,296

Gandhar Oil Refinery India IPO Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Gandhar Oil Refinery India Financial Performance

 FY 2020FY 2021FY 2022Q1 FY 2023
Net income9.86100.13147.2158.11
Margin (%)0.394.514.156.57
(Amount in ₹ Crores)

Gandhar Oil Refinery India Valuations & Margins

FY 2020FY 2021FY 2022
PE ratio
RONW (%)2.8725.3332.53
ROCE (%)13.7330.0042.12
EBITDA (%)2.416.246.94

Company Promoters

  • Mr Ramesh Babulal Parekh
  • Mr Samir Ramesh Parekh
  • Mr Aslesh Ramesh Parekh

Promoter Holding

Pre Issue Share Holding87.50%
Post Issue Share Holding

Gandhar Oil Refinery India IPO Lead Manager(s)

  • Edelweiss Financial Services Ltd
  • ICICI Securities Limited

Gandhar Oil Refinery India Registrar

C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949

Gandhar Oil Refinery India Contact Details

18th floor, DLH Park, S.V. Road,
Goregaon (W), Mumbai 400 062, Maharashtra
Phone: +91 22 4063 5600

Gandhar Oil Refinery India IPO Allotment Status

Gandhar Oil IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.

Final thoughts

Gandhar Oil Refinery India IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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