Gandhar Oil Refinery (India) Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 14,813,365 (50%) | — | ₹25,035 Cr |
| NII (HNI) | — | 4,444,010 (15%) | — | ₹7,510 Cr |
| Retail | — | 10,369,357 (35%) | — | ₹17,524 Cr |
| Σ Total | — | 29,626,732 (100%) | — | ₹500,692 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 88 | ₹14,872 |
| Retail (Max) | 13 | 1,144 | ₹193,336 |
| S-HNI (Min) | 14 | 1,232 | ₹208,208 |
| B-HNI (Min) | 67 | 5,896 | ₹996,424 |
Financial Statements Amount in Crore
| Metric | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Revenue | 1,072 | 4,102 | 3,398 |
| Profit After Tax | 54 | 213 | 184 |
| Net Worth | 811 | 760 | 561 |
| Total Assets | 1,796 | 1,613 | 1,318 |
| Reserves & Surplus | 764 | 719 | 529 |
| Total Borrowing | 336 | 170 | 158 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- Investment in Texol by way of a loan for financing the repayment/pre-payment of a loan facility availed by Texol from the Bank of Baroda; –
- Capital expenditure through the purchase of equipment and civil work required for (i) expansion in the capacity of automotive oil at the company's Silvassa Plant; (ii) expansion in the capacity of petroleum jelly and accompanying cosmetic product division at the company's Taloja Plant; and (iii) expansion in capacity of white oils by installing blending tanks at the company's Taloja Plant; –
- Funding working capital requirements of the Company; and –
- General corporate purposes. –
Company Overview
Incorporated in 1992, Gandhar Oil Limited is a manufacturer of white oils that caters to the consumer and healthcare end industries.
As of June 30, 2023, the 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.
As of June 2023, the company has catered to 100 countries across the globe including Europe, Africa, and the Americas. The company served over 3500 clients, including Procter & Gamble (P&G), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami, Amrutanjan Healthcare, Supreme Petrochem and other leading Indian manufacturers of pharmaceutical products.
The company has an in-house sales and marketing team that comprises 129 employees as of June 30, 2023.
The company currently operates 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.