Gandhar Oil Refinery is into Consumer Specialty Oil and is looking raise funds through Fresh Issue and Offer For Sale
Gandhar Oil Refinery IPO Update:
Gandhar Oil Refinery (India) Limited IPO: Mumbai based Gandhar Oil Refinery (India) Limited established in the year 1992 and is into Consumer - Specialty Oil sector.
Company is promoted by Mr. Ramesh Babulal Parekh, Mr. Samir Ramesh Parekh and Mr. Aslesh Ramesh Parekh. Pre-Offer Promoter and Promoter group stake in the company is 87.5%.
Gandhar Oil Refinery (India) Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 501 Crores calculated on upper price band (face value of INR 2 per share) via initial public offering.
Initial Public Offer comprising of a Fresh Issue of Equity shares aggregating up to Rs 357 Cr and an Offer for Sale of up to 12,036,380 Equity Shares Edelweiss Financial Services, ICICI Securities have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime (India) Pvt. Ltd. as Registrar and Share transfer Agent.
Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 160 to Rs 169 with lot size of 88 shares and in multiples thereof. Objects of the issue is 1) Investment into Texol by way of a loan for financing the repayment/pre-payment of a loan availed by Texol from the Bank of Baroda - Rs22.7 cr, 2) Capital expenditure through purchase of equipment and civil work required for expansion in capacity of automotive oil at Silvassa Plant - Rs27.7 cr, 3) Working Capital - Rs185 cr., and 4) General Corporate Purpose.
IPO Dates:
IPO will open on November 22, 2023 and close on November 22, 2023. Tentative date of listing on stock exchanges is December 05, 2023
Want to know more details about the IPO, please visit here Gandhar Oil Refinery (India) Limited
Source: SEBI, BSE, NSE, DRHP, Gandhar Oil Refinery, Industry Data
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