Gandhar Oil Refinery IPO to debut with strong investor interest By Investing.com

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Gandhar Oil Refinery Ltd is making its debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) today, with market experts predicting a robust opening premium of up to 40%. The company’s shares were expected to start trading at a premiuim of ₹58 to ₹68, reflecting a potential gain of 30-40% from the issue price, signaling strong investor confidence in Gandhar’s market presence within the white oil sector.

The initial public offering (IPO) of Gandhar Oil Refinery amassed ₹500.69 crores, which included both fresh equity and an offer for sale to various investor classes such as Qualified Institutional Buyers (QIBs) and Retail Individual Investors (RIIs). Since its inception in 1992, Gandhar Oil has witnessed global expansion, now serving over a hundred countries. The company’s Divyol branded products have found applications in diverse sectors including healthcare, lubricants, and performance oils, earning a reputable client base with names like Procter & Gamble (NYSE:) and Marico.

On the listing day, the Grey Market Premium (GMP) was reported at ₹73, pointing to a strong market interest and an anticipated opening price of ₹242 per share, which would translate to an expected profit margin of around 43%. The IPO is being managed by ICICI Securities Limited and Nuvama Wealth Management Limited, with Link Intime India Pvt Ltd facilitating the registration process for all stakeholders.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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