Gandhar Oil Refinery (India) Limited IPO

November 20, 2023

This is to inform you that Gandhar Oil Refinery (India) Limited is coming out with a public issue to raise Rs.500.69 crore from the market.

The issue opens on November 22 and closes on November 24, 2023.

Details of the Gandhar Oil Refinery (India) Limited IPO

Company Details :

Gandhar Oil Refinery (India) Limited is a leading manufacturer of white oils by revenue with a growing focus on the consumer and healthcare end-industries. As of June 30, 2023, their product suite comprised over 440 products primarily across the personal care, healthcare and performance oils (“PHPO”), lubricants and process and insulating oils (“PIO”) divisions under the “Divyol” brand. Their 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 their Company is India’s largest manufacturer of white oils by revenue in Financial Year 2023, including domestic and overseas sales and is one of the top five players globally in terms of market share in the calendar year 2022 (Source: CRISIL Report).

As of June 30, 2023, their products were sold in over 100 countries across the globe. They catered to over 3,500 customers in the Financial Year 2023, 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 their global supplier base and manufacturing operations in India and United Arab Emirates.

They currently operate three manufacturing facilities with a combined annual production capacity of 522,403 kL as of June 30, 2023, with plants located in (i) Taloja, Maharashtra (the “Taloja Plant”), (ii) Silvassa, the Union Territory of Dadra and Nagar Haveli and Daman and Diu (the “Silvassa Plant”) and (iii) Sharjah, United Arab Emirates (the “Sharjah Plant”) to cater to domestic and overseas demand for their products. They have obtained various quality certifications for their plants, each of which is ISO-certified.

Issue Period : Issue opens on: Wednesday, November 22, 2023
Issue closes on: Friday, November 24, 2023
Price Band : Rs.160  to Rs.169 per equity share
Bid Lot : 88 equity shares and in multiple thereafter.
Issue Size : Rs.500.69 crore
Issue break-up : QIB - 50% of the offer – Rs.250.35 crore
NIB - 15% of the offer - Rs.75.10 crore
RET - 35% of the offer - Rs.175.24 crore
Listing : BSE & NSE
Registrar : Link Intime India Pvt Ltd
UPI : All Retail &  NII Bidders (bids up to ₹ 5,00,000) Applications through brokers are compulsorily in UPI Mode
Note :
  • Application made using third party UPI or ASBA Bank A/c are liable to be rejected.
  • “The UPI Mandate acceptance time for Retail and NII Bidders (bids up to ₹ 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Friday, November 24, 2023.

Watch these 4 videos to know how to apply for the Gandhar Oil Refinery (India) Limited IPO online easily.

Step 1: Create an UPI ID

Create UPI ID

How to Create UPI ID CTA
Step 2: Apply for IPO online using mobile app or website

Step 3: Authorise UPI mandate to block payment

Authorised UPI ID

Authorised UPI ID CTA

Remember these points while applying for IPOs

  • With Sharekhan, you can now fill and submit your IPO application online at your convenience anytime before an issue closes. This can be done through the Sharekhan app or website.
  • You will need a mobile phone with a SIM linked to your bank account offering the UPI facility and a debit card to create your UPI ID.
  • Currently, UPI works on the following mobile applications:
    Name of App (Supported Platforms) VPA Handle
    BHIM Baroda Pay (only Android) @BARODAMPAY
    BHIM Oriental Pay (Only Android) @obc
    BHIM RBL Pay (Android & iOS) @rbl
    BHIM (android & iOS) @upi
    BHIM ALLBANK UPI (only Android) @allbank
    BHIM Axis Pay (only android) @axisbank
    BHIM IndusPay (only Android) @indus
    BHIM Lotza UPI (only Android) @federal
    BHIM SBIPay (only android) @sbi
    Citi Mobile (android & iOS) @citi & @citigold
    Google Pay (android & iOS) @okhdfcbank | @okaxis | @oksbi | @okicici
    HSBC Simply Pay (android & iOS) @hsbc
    iMobile by ICICI Bank (android users) @icici
    Kotak Mobile Banking App (Android) @kotak
    Phone-Pe (android & iOS) @ybl
    SIB Mirror+ (only Android) @sib
    BHIM YES PAY (only Android) @yesbank
    DigiBank - DBS (Android & iOS @dbs
    Paytm (Andriod & iOS) @paytm
    BHIM AUPay (Android & iOS) @aubank
    Freecharge (Android & iOS) @freecharge
    BHIM BANDHAN UPI (Android & iOS) @bandhan
    BHIM KBL UPI (Android) @kbl
    Phone-Pe (Android & iOS) @ybl, @axl, @ibl
  • To avoid rejection, download the latest version of the app.
  • Remember to select UPI as the payment option in the IPO application form by providing your UPI ID.
  • As soon as you submit your application through the mobile app or website, you will receive an SMS from National Payments Corporation of India (NPCI) informing you that your UPI mandate has been generated.
  • The app passcode and the UPI PIN can be different; remember to enter only the UPI PIN while authorising the UPI mandate. Note that you should not share your UPI PIN with anyone.
  • If you forget the UPI PIN, simply reset it instead of entering a wrong one.
  • If the transaction gets through, you will receive a “Transaction is successful” message on your mobile.
  • There are two possible scenarios post-allotment: On full allotment, funds will be debited from your account. If there is no allotment of shares, the blocked funds will be released after the end date or expiry date of the UPI mandate.
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Published by Team Internal Communications
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