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Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Gandhar Oil Refinery (India) Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.
Price Band
₹169
Per ShareLot Size
88 Shares
Minimum Investment
₹14,872
Issue Size
₹500.69 Cr
Face Value
₹2
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
42.5%
Promoter Holding (Post-Issue)
34.74%
Issue Type
Book Building
ISIN
INE717W01049
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, its product suite comprised over 440 products primarily across the personal care, healthcare and performance oils, lubricants and process and insulating oils divisions under the "Divyol" brand. The 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
The global specialty oil market value, estimated at $129.90 billion in 2023, is expected to grow to $154.0 billion by 2028, at a CAGR of 3.5%. The Indian specialty oil market is estimated to be $7.33 billion in 2023 and reach $9.30 billion by 2028, at a CAGR of 4.9%. White oil is expected to be the fastest-growing segment over the forecast period, given the favourable outlook for end-user industries amid rising focus on product safety and awareness about health and hygiene
Revenue, profit after tax and total assets across the last 3 reported financial years.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offering of 29,626,732* equity shares of face value of Rs. 2 each ("Equity Shares") of Gandhar Oil Refinery (India) Limited (the "Company" or the "Issuer") for cash at a price of Rs. 169 per equity share (including a premium of Rs. 167 per equity share) (the "Offer Price") aggregating to Rs. 500.69* crores (the "Offer") comprising a fresh issue of 17,869,822* equity shares by the company aggregating to Rs. 302.00* crores (the "Fresh Issue") and an offer for sale of 11,756,910 equity shares aggregating to Rs. 198.69* crores (the "Offer for Sale"), comprising 2,250,000* equity shares aggregating to Rs. 38.03* crores by Ramesh Babulal Parekh (1) (the "Promoter Selling Shareholder"), 2,250,000* equity shares aggregating to Rs. 38.03* crores by Kailash Parekh(1), 2,250,000* equity shares aggregating to Rs. 38.03* crores by Gulab Parekh(1) (Kailash Parekh (1) and Gulab Parekh (1) are together referred to as the "Promoter Group Selling Shareholders"), 3,000,000* equity shares aggregating to Rs. 50.70* crores by Green Desert Real Estate Brokers, 1,000,000* equity shares aggregating to Rs. 16.90* crores by Denver Bldg Mat & Decor Tr llc, 1,000,000* equity shares aggregating to Rs. 16.90* crores by Fleet Line Shipping Services llc, 1,970* equity shares aggregating to Rs. 0.033* crores by Sunith Menon (1), 1,970* equity shares aggregating to Rs. 0.033* crores by Vijendra Sumatilal Patani, 1,970* equity shares aggregating to Rs. 0.033* crores by Vinay Prabhakar Ulpe (1) and 1,000* equity shares aggregating to Rs. 0.02* crores by Mayur Bhupendralal Desai (1) (Green Desert Real Estate Brokers, Denver Bldg Mat & Decor Tr llc, Fleet Line Shipping Services llc, Sunith Menon (1), Vijendra Sumatilal Patani, Vinay Prabhakar Ulpe(1)and Mayur Bhupendralal Desai (1), collectively referred to as the "Other Selling Shareholders") (the promoter selling shareholder, promoter group selling shareholders and other selling shareholders, collectively referred to as the "Selling Shareholders" and such equity shares offered by the selling shareholders, the "Offered Shares"). The face value of the equity shares is Rs. 2 each and the offer price is 84.5 times the face value of the equity shares.
*Subject to approvals and market conditions.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
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*Real-time data subject to exchange updates
Gandhar Oil Refinery (India) Limited was incorporated on October 7, 1992 at Mumbai, Maharashtra as `Gandhar Oil Refinery (India) Private Limited' under the Companies Act, 1956. Pursuant to fulfilling certain requirements for a public company under the Companies Act, 1956 and conversion into a public limited company, the name of the Company was changed to `Gandhar Oil Refinery (India) Limited', and a fresh certificate of incorporation dated January 22, 1997 was issued by the Registrar of Companies, Maharashtra, at Mumbai ("RoC"). The Company was then converted into a private limited company under the provisions of the Companies Act, 1956 and the name of the Company was changed to `Gandhar Oil Refinery (India) Private Limited' pursuant to conversion into a private company, and a fresh certificate of incorporation dated January 6, 2003 was issued by the RoC. Subsequently, the name of the Company was changed to `Sunoco Industries Private Limited' and a fresh certificate of incorporation dated March 16, 2004 was issued by the RoC. The name of the Company was changed again to `Gandhar Oil Refinery (India) Private Limited' and a fresh certificate of incorporation dated July 25, 2005 was issued by the RoC. Pursuant to conversion into a public limited company, the name of the Company was changed to `Gandhar Oil Refinery (India) Limited', and a fresh certificate of incorporation dated August 22, 2005 was issued by the RoC.
Wholesalers and Retailers
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.