Gandhar Oil Refinery India Limited IPO
Gandhar Oil Refinery India Limited IPO
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The public market debut of Gandhar Oil Refinery India Limited's was completed on 30-11-2023 with its listing on the NSE, BSE exchange. The IPO process raised 2,96,26,732 Shares in total capital, consisting of 1,78,69,822 Shares in new equity and ₹198.69 Cr in existing share sales through the OFS route.
The offering featured a price range of ₹160 to ₹169 and minimum application size of 88 shares. Investor response during the subscription period from 22-11-2023 to 24-11-2023 influenced the final allotment ratios across investor categories.
Final allotment was announced on 29-11-2023, distributing shares to successful subscribers. The listing established a continuous market for the company's shares, enabling liquidity, valuation transparency, and broader investor participation.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Gandhar Oil IPO About Company
Gandhar Oil Limited is a leading manufacturer of white oils used mainly in consumer and healthcare industries, offering over 350 products under the brand name “Divyol”. Their products are key ingredients for many end products in sectors like consumer goods, healthcare, automotive, industrial, power, tyre, and rubber. The company serves both Indian and global markets, supplying to more than 100 countries as of June 2022. Gandhar Oil has over 3,500 clients worldwide, including well-known brands like P&G, Unilever, Marico, Dabur, Patanjali Ayurved, Bajaj Consumer Care, Emami, Encube, and Amrutanjan Healthcare.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Gandhar Oil IPO Strength Factors
NA
Gandhar Oil IPO Risk Factors
NA
Gandhar Oil IPO Lead Manager(s)
- Edelweiss Financial Services Limited
- ICICI Securities Limited
Gandhar Oil IPO Promoter(s)
- Mr Ramesh Babulal Parekh
- Mr Samir Ramesh Parekh
- Mr Aslesh Ramesh Parekh
Gandhar Oil IPO FAQs
Gandhar Oil Refinery India Limited IPO subscribed 64.07 times. The public issue subscribed 28.95 times in the retail category,129times in QIB, and 59.89 times in the HNI (10+) category byNovember 5, 2025 6:10:13 AM (Day 5).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Gandhar Oil IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Gandhar Oil IPO FAQs
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