Gandhar Oil IPO: Check Allotment Status Online, Latest GMP And Listing Date

Gandhar Oil IPO: The firm sold its IPO in the range of Rs 160-169 apiece, with a lot size of 88 shares, which was open for bidding between November 22 and November 24

Gandhar Oil IPO: The portion for qualified institutional bidders was subscribed a whopping 129 times, while the portion reserved for non-institutional investors saw 62.33 times bidding.

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Gandhar Oil Refinery (India) Ltd is aiming to finalise its initial public offering (IPO) share allotment status by Tuesday. The firm sold its IPO in the range of Rs 160-169 apiece, with a lot size of 88 shares, which was open for bidding between November 22 and November 24.

The white oil maker raised a total of Rs 500.93 crore via primary route, which included a fresh share sale of Rs 302 crore and an offer-for-sale (OFS) of up to 1,78,69,822 equity shares. The issue was overall subscribed a strong 64.07 times during the bidding process. The portion for qualified institutional bidders was subscribed a whopping 129 times, while the portion reserved for non-institutional investors saw 62.33 times bidding. The allocation reserved for retail investors booked 28.95 times during the three-day bidding process.

Grey market premium (GMP) of Gandhar Oil Refinery has jumped after a strong buying interest from investors across the board. Last heard, Gandhar Oil was commanding a premium of Rs 75-77 apiece in the unofficial market, suggesting a listing pop of about 45 per cent for the investors.

Investors who have bid for the IPO can check the allotment status online at the BSE website or the website of the official registrar, Link Intime India Private Ltd. Once the shares allotment process is complete, the investors can see the number of shares allotted to them. The refunds will be initiated for investors who did not get the allotment and shares are expected to be credited to the Demat accounts of successful bidders by November 29.

The shares of Gandhar Oil Refinery are likely to get listed on the bourses on November 30.

Kronox Lab Sciences IPO

On the other hand, Speciality Chemicals Company Kronox Lab Sciences has filed preliminary papers with regulator SEBI to raise funds through an IPO. The proposed offer comprises a fresh issue of equity shares worth Rs 45 crore and an offer-for-sale (OFS) of 78 lakh equity shares by promoters, according to the draft red herring prospectus (DRHP). As per market sources, the estimated IPO size is Rs 150 crore.

Going by the draft papers filed on Friday, the proceeds from the fresh issue will be utilised for funding the working capital requirements and general corporate purposes.

Vadodara-based Kronox is a manufacturer of high-purity specialty fine chemicals. Its products find application in a wide spectrum of industries for diversified uses such as pharmaceutical formulations, active pharmaceutical ingredients, biotech, scientific research and testing, nutraceuticals, personal care, agrochemicals, animal health, metallurgy, amongst others.