{"id":35819,"date":"2023-11-17T13:24:28","date_gmt":"2023-11-17T07:54:28","guid":{"rendered":"https:\/\/flattrade.in\/kosh\/?p=35819"},"modified":"2023-11-17T17:35:29","modified_gmt":"2023-11-17T12:05:29","slug":"gandhar-oil-refinery-india-limited-ipo-details","status":"publish","type":"post","link":"https:\/\/flattrade.in\/kosh\/gandhar-oil-refinery-india-limited-ipo-details\/","title":{"rendered":"Gandhar Oil Refinery India Limited IPO Details"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"35819\" class=\"elementor elementor-35819\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2cbb9b88 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2cbb9b88\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-60b0be33\" data-id=\"60b0be33\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-78985a4c elementor-widget elementor-widget-text-editor\" data-id=\"78985a4c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Gandhar Oil Refinery, a leading manufacturer of white oils, plans to go public to raise up to Rs 500.69 crore. The subscription for the initial public offering (IPO) will be open from November 22 to November 24, 2023. The price band is fixed between Rs 160 and Rs 169 per share.<\/p><p>The IPO consists of fresh issue of shares worth up to Rs 302 crore and offer for sale of shares worth up to Rs 198.69 crore. The size of one lot is 88 shares.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a3587dc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a3587dc\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-443f8fa8\" data-id=\"443f8fa8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6955333d elementor-widget elementor-widget-heading\" data-id=\"6955333d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Company Summary<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3da5846 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3da5846\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2c6a312\" data-id=\"2c6a312\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-370b82a8 elementor-widget elementor-widget-text-editor\" data-id=\"370b82a8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Gandhar Oil Refinery India 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, its product suite comprised over 440 products primarily across personal care, healthcare and performance oils (\u201cPHPO\u201d), lubricants and process and insulating oils (\u201cPIO\u201d) divisions under the \u201cDivyol\u201d brand.<\/p><p>The white oil market is the fastest growing segment in the specialty oils sector and the company is India\u2019s largest manufacturer in terms of market share in the calendar year 2022. The company said its consolidated revenue from operations grew at a CAGR of 40.59% between financial years 2021 and 2023.<\/p><p>As of June 30, 2023, the company\u2019s products are sold in over 100 countries across the globe. The company caters to over 3,500 customers in the financial year 2023, including leading Indian and global companies such as Procter &amp; Gamble (\u201cP&amp;G\u201d), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami and Amrutanjan Healthcare, supported by its global supplier base and manufacturing operations in India and United Arab Emirates.<\/p><p>The PHPO division is the company\u2019s largest business division and contributed Rs 552.58 crore or 56.29% and Rs 2,098.30 crore or 54.96% of its consolidated revenue from finished goods sold for the quarter ended June 30, 2023 and FY23, respectively.<\/p><p>The company currently operates three manufacturing facilities with a combined annual production capacity of 5,22,403 kL as of June 30, 2023, with plants located at Taloja in Maharashtra, Silvassa in the Union Territory of Dadra and Nagar Haveli and Daman and Diu (the \u201cSilvassa Plant\u201d) and Sharjah, United Arab Emirates to cater to domestic and overseas demand for our products.<\/p><p>Gandhar Oil Refinery is in the process of enhancing its production capacity of its Taloja Plant by an aggregate of 1,00,000 kL, out of which, it has commissioned an incremental capacity of 25,000 kL in October 2022. This enhancement of capacity will be funded from its internal accruals and through external borrowings obtained by the company. The company expects to complete the enhancement to the production capacity during FY24.<\/p><p>In addition, the oil refiner intends to utilize Rs 27.73 crore out of the net proceeds towards enhancing the manufacturing capabilities and expect to add an aggregate of 18,840 kL of annual production capacity at their Silvassa Plant for expansion in capacity of automotive oil.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6836c2a6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6836c2a6\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-31e8b8d0\" data-id=\"31e8b8d0\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2631be6f elementor-widget elementor-widget-heading\" data-id=\"2631be6f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Company Strengths<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1cd7459c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1cd7459c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-926eb74\" data-id=\"926eb74\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4761771e elementor-widget elementor-widget-text-editor\" data-id=\"4761771e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li>Leading manufacturer of white oils with significant overseas sales and focus on consumer and healthcare end-industries.<\/li><li>Extensive and diversified customer base and supplier base consisting of leading oil companies with competitive pricing advantage.<\/li><li>Strategically located manufacturing facilities and in-house R&amp;D capabilities.<\/li><li>Resilient, flexible and scalable business model with prudent risk management framework.<\/li><li>Track record of consistent financial performance and growth.<\/li><li>Experienced promoters and qualified management team.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-379bb2f2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"379bb2f2\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-75ef1590\" data-id=\"75ef1590\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6903d59 elementor-widget elementor-widget-heading\" data-id=\"6903d59\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Company Financials<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4c876368 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4c876368\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7e93031a\" data-id=\"7e93031a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5901547f elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"5901547f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<table><tbody><tr><td><p><strong><b>Period Ended<\/b><\/strong><\/p><\/td><td><p><strong><b>Q1FY24<\/b><\/strong><\/p><\/td><td><p><strong><b>FY23<\/b><\/strong><\/p><\/td><td><p><strong><b>FY22<\/b><\/strong><\/p><\/td><td><p><strong><b>FY21<\/b><\/strong><\/p><\/td><\/tr><tr><td><p><strong><b>Total Assets (Rs in crore)<\/b><\/strong><\/p><\/td><td><p>1795.57<\/p><\/td><td><p>1613.43<\/p><\/td><td><p>1318.21<\/p><\/td><td><p>1100.93<\/p><\/td><\/tr><tr><td><p><strong><b>Total Revenue (Rs in crore)<\/b><\/strong><\/p><\/td><td><p>1071.51<\/p><\/td><td><p>4101.79<\/p><\/td><td><p>3397.97<\/p><\/td><td><p>2069.58<\/p><\/td><\/tr><tr><td><p><strong><b>Revenue from Operations (Rs in crore)<\/b><\/strong><\/p><\/td><td><p>1070.33<\/p><\/td><td><p>4079.44<\/p><\/td><td><p>3389.13<\/p><\/td><td><p>2063.86<\/p><\/td><\/tr><tr><td><p><strong><b>EBITDA (Rs in crore)<\/b><\/strong><\/p><\/td><td><p>84.06<\/p><\/td><td><p>316.62<\/p><\/td><td><p>267.48<\/p><\/td><td><p>248.56<\/p><\/td><\/tr><tr><td><p><strong><b>EBITDA Margin<\/b><\/strong><\/p><\/td><td><p>7.85%<\/p><\/td><td><p>7.76%<\/p><\/td><td><p>7.89%<\/p><\/td><td><p>12.04%<\/p><\/td><\/tr><tr><td><p><strong><b>Profit After Tax (Rs in crore)<\/b><\/strong><\/p><\/td><td><p>54.28<\/p><\/td><td><p>213.18<\/p><\/td><td><p>184.3<\/p><\/td><td><p>161.14<\/p><\/td><\/tr><tr><td><p><strong><b>PAT Margin <\/b><\/strong><\/p><\/td><td><p>5.07%<\/p><\/td><td><p>5.20%<\/p><\/td><td><p>5.42%<\/p><\/td><td><p>7.79%<\/p><\/td><\/tr><tr><td><p><strong><b>Net debt-to-EBITDA ratio<\/b><\/strong><\/p><\/td><td><p>3.29<\/p><\/td><td><p>0.39<\/p><\/td><td><p>0.37<\/p><\/td><td><p>0.67<\/p><\/td><\/tr><tr><td><p><strong><b>Return on Equity<\/b><\/strong><\/p><\/td><td><p>6.91%<\/p><\/td><td><p>32.28%<\/p><\/td><td><p>39.36%<\/p><\/td><td><p>53.20%<\/p><\/td><\/tr><tr><td><p><strong><b>Return on Capital Employed<\/b><\/strong><\/p><\/td><td><p>9.30%<\/p><\/td><td><p>41.19%<\/p><\/td><td><p>46.96%<\/p><\/td><td><p>61.23%<\/p><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-16db5b76 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"16db5b76\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-603aa09d\" data-id=\"603aa09d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-21daa62e elementor-widget elementor-widget-heading\" data-id=\"21daa62e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Purpose of the IPO <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1e05093c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1e05093c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-724e362\" data-id=\"724e362\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-767f8bde elementor-widget elementor-widget-text-editor\" data-id=\"767f8bde\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The net proceeds from fresh issue of shares will utilised for the following:<\/p><ul><li>Investment into Texol by way of a loan for financing the repayment or pre-payment of a loan facility availed by Texol from the Bank of Baroda totalling Rs 22.713 crore.<\/li><li>Capital expenditure through purchase of equipment and civil work required for expansion in capacity of automotive oil at our Silvassa Plant aggregating up to Rs 27.73 crore.<\/li><li>Funding working capital requirements of the company totalling Rs 185 crore and general corporate purposes.<\/li><\/ul><div>Further,\u00a0the proceeds from offer for sale will go to selling shareholders after deducting respective portion of the Offer-related expenses and relevant taxes.<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7825627c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7825627c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-202f9efe\" data-id=\"202f9efe\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6d6f1e71 elementor-widget elementor-widget-heading\" data-id=\"6d6f1e71\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Company Promoters<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-47256154 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"47256154\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-20731bf4\" data-id=\"20731bf4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-50112a1a elementor-widget elementor-widget-text-editor\" data-id=\"50112a1a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Ramesh Babulal Parekh, Samir Ramesh Parekh and Aslesh Ramesh Parekh are the promoters of the company.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-21651169 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"21651169\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6edc6d7e\" data-id=\"6edc6d7e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-16e8d1e8 elementor-widget elementor-widget-heading\" data-id=\"16e8d1e8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">IPO Details<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-59dd5d3a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"59dd5d3a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d917ab2\" data-id=\"d917ab2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7005b4dd elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"7005b4dd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<table><tbody><tr><td width=\"22.1800%\"><p><strong><b>IPO Date<\/b><\/strong><\/p><\/td><td width=\"77.3200%\"><p>November 22, 2023 to November 24, 2023<\/p><\/td><\/tr><tr><td width=\"22.1800%\"><p><strong><b>Face Value<\/b><\/strong><\/p><\/td><td width=\"77.3200%\"><p>Rs 2 per share<\/p><\/td><\/tr><tr><td width=\"22.1800%\"><p><strong><b>Price Band<\/b><\/strong><\/p><\/td><td width=\"77.3200%\"><p>Rs 160 to Rs 169 per share<\/p><\/td><\/tr><tr><td width=\"22.1800%\"><p><strong><b>Lot Size<\/b><\/strong><\/p><\/td><td width=\"77.3200%\"><p>88 Shares<\/p><\/td><\/tr><tr><td width=\"22.1800%\"><p><strong><b>Total Issue Size<\/b><\/strong><\/p><\/td><td width=\"77.3200%\"><p>2,96,26,732 shares\u00a0aggregating up to Rs 500.69 crore<\/p><\/td><\/tr><tr><td width=\"22.1800%\"><p><strong><b>Fresh Issue<\/b><\/strong><\/p><\/td><td width=\"77.3200%\"><p>1,78,69,822 shares\u00a0aggregating up to Rs 302 \u00a0crore<\/p><\/td><\/tr><tr><td width=\"22.1800%\"><p><strong><b>Offer for Sale<\/b><\/strong><\/p><\/td><td width=\"77.3200%\"><p>1,17,56,910 shares of Rs 2\u00a0aggregating up to Rs 198.69 crore<\/p><\/td><\/tr><tr><td width=\"22.1800%\"><p><strong><b>Issue Type<\/b><\/strong><\/p><\/td><td width=\"77.3200%\"><p>Book Built Issue IPO<\/p><\/td><\/tr><tr><td width=\"22.1800%\"><p><strong><b>Listing At<\/b><\/strong><\/p><\/td><td width=\"77.3200%\"><p>BSE, NSE<\/p><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-421c3d6b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"421c3d6b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-38d67a38\" data-id=\"38d67a38\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-664d459e elementor-widget elementor-widget-heading\" data-id=\"664d459e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">IPO Lot Size <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3281b948 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3281b948\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-48dc2cc1\" data-id=\"48dc2cc1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-284532c9 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"284532c9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<table><tbody><tr><td><p><strong><b>Application<\/b><\/strong><\/p><\/td><td><p><strong><b>Lots<\/b><\/strong><\/p><\/td><td><p><strong><b>Shares<\/b><\/strong><\/p><\/td><td><p><strong><b>Amount<\/b><\/strong><\/p><\/td><\/tr><tr><td><p>Retail (Minimum)<\/p><\/td><td><p>1<\/p><\/td><td><p>88<\/p><\/td><td><p>Rs 14,872<\/p><\/td><\/tr><tr><td><p>Retail (Maximum)<\/p><\/td><td><p>13<\/p><\/td><td><p>1144<\/p><\/td><td><p>Rs 1,93,336<\/p><\/td><\/tr><tr><td><p>Small HNI (Minimum)<\/p><\/td><td><p>14<\/p><\/td><td><p>1,232<\/p><\/td><td><p>Rs 2,08,208<\/p><\/td><\/tr><tr><td><p>Small HNI (Maximum)<\/p><\/td><td><p>67<\/p><\/td><td><p>5,896<\/p><\/td><td><p>Rs 9,96,424<\/p><\/td><\/tr><tr><td><p>Large HNI (Minimum)<\/p><\/td><td><p>68<\/p><\/td><td><p>5,984<\/p><\/td><td><p>Rs 10,11,296<\/p><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-49c5cb37 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"49c5cb37\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4ba658fb\" data-id=\"4ba658fb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4d9d257e elementor-widget elementor-widget-heading\" data-id=\"4d9d257e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Allotment Details <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2257fa65 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2257fa65\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6707d7a9\" data-id=\"6707d7a9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-214e1a4 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"214e1a4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<table><tbody><tr><td width=\"63.2600%\"><p><strong><b>Event<\/b><\/strong><\/p><\/td><td width=\"36.2600%\"><p><strong><b>Date<\/b><\/strong><\/p><\/td><\/tr><tr><td width=\"63.2600%\"><p>Allotment\u00a0of Shares<\/p><\/td><td width=\"36.2600%\"><p>November 30, 2023<\/p><\/td><\/tr><tr><td width=\"63.2600%\"><p>Initiation of Refunds<\/p><\/td><td width=\"36.2600%\"><p>December 1, 2023<\/p><\/td><\/tr><tr><td width=\"63.2600%\"><p>Credit of Shares to Demat\u00a0Account \u00a0\u00a0<\/p><\/td><td width=\"36.2600%\"><p>December 4, 2023<\/p><\/td><\/tr><tr><td width=\"63.2600%\"><p>Listing Date<\/p><\/td><td width=\"36.2600%\"><p>December 5, 2023<\/p><\/td><\/tr><\/tbody><\/table><p>To check allotment, <a href=\"https:\/\/linkintime.co.in\/IPO\/public-issues.html\"><span style=\"text-decoration: underline;\"><strong>click here<\/strong><\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2f3136a0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2f3136a0\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-efd253\" data-id=\"efd253\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-10947700 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"10947700\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/novo.flattrade.in\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply for IPO<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"Gandhar Oil Refinery, a leading manufacturer of white oils, plans to go public to raise up to Rs&hellip;","protected":false},"author":5,"featured_media":35905,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"footnotes":""},"categories":[15],"tags":[611,46,43,95,26,202,874,1021,24,23,84,1022],"class_list":{"0":"post-35819","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ipos","8":"tag-latest-ipo","9":"tag-market-news","10":"tag-market-update","11":"tag-markets","12":"tag-nse","13":"tag-oil","14":"tag-oil-refiner","15":"tag-refinery","16":"tag-share-market","17":"tag-stock-market","18":"tag-stocks","19":"tag-white-oil","20":"cs-entry","21":"cs-video-wrap"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gandhar Oil Refinery India Limited IPO Details - Flattrade Kosh<\/title>\n<meta name=\"description\" content=\"The subscription for the initial public offering (IPO) will be open from November 22 to November 24, 2023. 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