Gandhar Oil IPO Allotment Shares Today, Check Status Online; What GMP Signals For Listing?

Mumbai-based Gandhar Oil Refinery (India) Ltd is set to debut in the market on Thursday, November 30, with analysts predicting a substantial 30-40% surge on its first day of trading. The buzz surrounding the company's initial public offering (IPO) is coming from healthy subscription numbers, appealing valuation, strong financial performance, and promising global prospects.

The company's Rs 500 crore IPO garnered an overwhelming response, being oversubscribed 65 times at close. Investors displayed confidence, with the non-institutional category subscribing at a rate of 64.34 times, qualified institutional bidders at 129 times, and retail investors at 30 times the allotted shares.

In the grey market, Gandhar Oil's shares are trading at a premium of Rs 65 ahead of its market debut. Priced in the range of RS 160-169, the IPO comprised a fresh equity issue of Rs 302 crore and an offer for sale (OFS) of 1.17 crore shares. The promoters, including Kailash Parekh and Gulab Parekh, as well as other selling stakeholders like Green Desert Real Estate and Fleet Line Shipping, participated in the OFS.

While the company won't receive proceeds from the OFS, the funds raised from the fresh issue are earmarked for strategic purposes. Gandhar Oil Refinery plans to invest in its overseas joint venture, Texol, by providing a loan for the repayment of a loan facility availed by Texol. Additionally, the funds will be directed towards expanding and enhancing infrastructure at its plants in Taloja and Silvassa, meeting working capital requirements, and positioning the company for sustained growth.

Gandhar Oil Refinery boasts a diverse product portfolio, comprising 440 products spanning across personal care, healthcare, performance oils, lubricants, and process and insulating oils.

Investors can check the IPO share allotment status can do so easily through the BSE website. By selecting the equity option and choosing Gandhar Oil Refinery (India) Ltd from the drop-down list, investors can enter either the application number or PAN (10-digit alphanumeric) number. After a quick Captcha verification, clicking the submit button provides access to the allotment status.

Alternatively, investors can visit the official website of Link Intime India Pvt Ltd at https://linkintime.co.in/IPO/public-issues.html to check IPO share allotment status using PAN, application number, client ID, or account number.

Demat account holders can anticipate the credited shares by November 29, with trading expected to commence on November 30. As Gandhar Oil Refinery prepares to make its market debut, investors are watching closely monitoring the movements.