Gandhar Oil Refinery IPO Allotment Finalised: Know GMP Today, Check Allotment Status

Gandhar Oil Refinery IPO Allotment: The share allotment of the Gandhar Oil Refinery (India) Ltd IPO has been finalised today, Wednesday (November 29). Investors can now check their allotment status on Link Intime India’s website as well as on BSE.

The Gandhar Oil Refinery IPO listing is now likely to take place tomorrow, Thursday, on the BSE and the NSE.

Gandhar Oil Refinery IPO: Step-By-Step Guide To Check Allotment Status

Here’s how you can check Gandhar Oil Refinery IPO allotment status via BSE website:

1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.

2) Under ‘Issue Type’, select ‘Equity’.

3) Under ‘Issue Name’, select ‘Gandhar Oil Refinery (India) Limited’ in the dropbox.

4) Enter your application number, or the Permanent Account Number (PAN).

5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.

Your share application status will appear on your screen.

You can also visit direct Link Intime portal — linkintime.co.in/mipo/ipoallotment.html and check Gandhar Oil Refinery IPO allotment status.

Gandhar Oil Refinery IPO GMP

According to market observers, unlisted shares of Gandhar Oil Refinery (India) Ltd are currently trading Rs 65 higher in the grey market as compared with its issue price. The Rs 65 grey market premium or GMP means the grey market is expecting a 38.46 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Gandhar Oil Refinery IPO Details

The Gandhar Oil Refinery IPO was opened for subscription between November 22 and November 24. The price band of the IPO was fixed at Rs 160-169 per share.

The IPO comprised a fresh issue of equity shares worth Rs 302 crore and an Offer for Sale (OFS) of 1.17 crore shares by promoters and existing shareholders.

Those offering shares in the OFS included promoters — Ramesh Babulal Parekh, Kailash Parekh, and Gulab Parekh — and other shareholders, Fleet Line Shipping Services LLC, Denver Bldg Mat & Dcor TR LLC, and Green Desert Real Estate Brokers.

The proceeds from the fresh issue component will be used for payment of debt and for the purchase of equipment and civil work required for expansion in the capacity of automotive oil at the Silvassa plant.