{"id":28997,"date":"2023-11-24T13:08:10","date_gmt":"2023-11-24T07:38:10","guid":{"rendered":"https:\/\/blog.researchandranking.com\/?p=28997"},"modified":"2025-11-10T13:31:51","modified_gmt":"2025-11-10T08:01:51","slug":"gandhar-oil-refinery-india-ltd-ipo","status":"publish","type":"post","link":"https:\/\/www.equentis.com\/blog\/gandhar-oil-refinery-india-ltd-ipo\/","title":{"rendered":"Gandhar Oil Refinery Ltd. IPO \u2013 Subscription Status, Allotment & Other Key Dates"},"content":{"rendered":"
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The white oil manufacturer Gandhar Oil Refinery (India) Ltd.\u2019s IPO has been one of the most overwhelming IPOs of the season. While the company wanted to raise Rs. 500 crore through the IPO, it got subscriptions close to Rs. 7000 crore. The issue was fully subscribed on the first day of the IPO<\/a>, and the company got 5.52x more bids.<\/p>\n\n\n\n

Let\u2019s take a look at the details of the Gandhar Oil Refinery IPO<\/a>.<\/p>\n\n\n\n

IPO Subscription Status<\/strong><\/h2>\n\n\n\n

As per NSE<\/a> data, as of 5 p.m. yesterday, the IPO<\/a> was subscribed 15.25x. While the company offered 21243940 shares, the bids came for 323933896 shares.<\/p>\n\n\n\n

The non-institutional investors (NII) seem to be the most interested in this IPO<\/a>, as they have subscribed 26.23 times above the portion of the IPO that they were offered. Retail individual investors (RII) followed and subscribed 17.24 times more than the offer, while qualified institutional buyers (QIBs) subscribed 3.14 times the offer.<\/p>\n\n\n\n

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Even though the offer has already been oversubscribed, it is still open as the closing date for the IPO<\/a> is today, 24 November 2023.<\/p>\n\n\n\n

Gandhar Oil Refinery (India) Ltd. IPO Allotment & Listing Date<\/strong><\/h2>\n\n\n\n
Particulars<\/strong><\/td>Dates<\/strong><\/td><\/tr>
Basis of Allotment<\/strong><\/strong><\/td>November 30, 2023<\/td><\/tr>
Initiation of Refunds<\/strong><\/td>December 1, 2023<\/td><\/tr>
Credit of Shares to Demat<\/strong><\/strong><\/td>December 4, 2023<\/td><\/tr>
Listing Date<\/strong><\/td>December 5, 2023<\/td><\/tr>
Cut-off time for UPI mandate confirmation<\/strong><\/strong><\/td>5 PM on November 24, 2023<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

The IPO<\/a> will be closing today, and the basis of allotment is due on 30 November 2023, which is coming Thursday. You can expect the shares to be credited to your Demat account by 4 December, while if you are waiting for any refund, you can expect to receive it by 1 December.<\/p>\n\n\n\n

The shares of the Oil refinery will be listed on both NSE and BSE<\/a> as decided on 5 December 2023.<\/p>\n\n\n\n

Apart from the dates, here are other details you need to know about Gandhar IPO \u2013<\/p>\n\n\n\n

Price Band<\/td>Rs. 160 \u2013 Rs. 169<\/td><\/tr>
Minimum lot size for RII<\/td>88 shares<\/td><\/tr>
Minimum investment requirement for RII<\/td>Rs. 14872<\/td><\/tr>
Minimum lot size for NII<\/td>1232 shares or<\/td><\/tr>
Minimum investment requirement for NII<\/td>Rs. 208208<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

About Gandhar Oil Refinery (India) Ltd<\/strong><\/h2>\n\n\n\n

Gandhar Oil Limited is a highly esteemed company established in 1992 and is a leading manufacturer of white oils for the healthcare and consumer industries. The company’s brand, Divyol, offers over 350 products categorized as personal care, healthcare, performance, lubricants, and process and insulating oils. Their extensive and diverse product range makes them stand out as of June 30, 2022.<\/p>\n\n\n\n

The company’s products are considered essential components of end products across several sectors, including consumer goods, healthcare, automotive, industrial, power, tyre, and rubber.<\/p>\n\n\n\n

The products’ quality is undisputed, and they are used by leading Indian and global<\/a> companies, such as Procter & Gamble (P&G), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami, and Amrutanjan Healthcare. As of June 2022, the company has served clients from 100 countries, with over 3,500 clients, making it a reliable and trusted partner for companies worldwide.<\/p>\n\n\n\n

How do you check Gandhar Oil Refinery (India) Ltd. IPO<\/strong> Allotment Status?<\/strong><\/h2>\n\n\n\n

If you want to check the allotment status for Gandhar Oil IPO, then here are two steps you can follow \u2013<\/p>\n\n\n\n

Option 1: Using the BSE Website<\/strong><\/h3>\n\n\n\n