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| IPO Listing At | BSE, NSE |
| IPO Issue Type | Book Build Issue |
| Issue Size | ₹500.69 Cr |
| Fresh Issue | ₹302.00 Cr |
| Offer for Sale | ₹198.69 Cr |
| Face Value | ₹2 Per Equity Share |
| Price Band | ₹160.00-169.00 per share |
| Discount | Retail: 0.00 |
| BSE Code | 544029 |
| NSE Code | GANDHAR |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead Managers | ICICI Securities Ltd. |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 88 shares and in multiples thereof
Incorporated in 1992, Gandhar Oil Limited is a manufacturer of white oils that caters to the consumer and healthcare end industries.
As of June 30, 2023, the product suite comprised over 440 products primarily across the personal care, healthcare, and performance oils ("PHPO"), lubricants, and process and insulating oils ("PIO") divisions under the "Divyol" brand.
As of June 2023, the company has catered to 100 countries across the globe including Europe, Africa, and the Americas. The company served over 3500 clients, including Procter & Gamble (P&G), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami, Amrutanjan Healthcare, Supreme Petrochem and other leading Indian manufacturers of pharmaceutical products.
The company has an in-house sales and marketing team that comprises 129 employees as of June 30, 2023.
The company currently operates three manufacturing facilities with a combined annual production capacity of 522,403 kL as of June 30, 2023, with plants located in (i) Taloja, Maharashtra (the "Taloja Plant"), (ii) Silvassa, the Union Territory of Dadra and Nagar Haveli and Daman and Diu (the "Silvassa Plant") and (iii) Sharjah, United Arab Emirates (the "Sharjah Plant") to cater to domestic and overseas demand.
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment into Texol by way of a loan for financing the repayment/pre-payment of a loan facility availed by Texol from the Bank of Baroda | 22.71 |
| 2 | Capital expenditure through purchase of equipment and civil work required for expansion in capacity of automotive oil at our Silvassa Plant | 27.73 |
| 3 | Funding working capital requirements of our Company | 185.01 |
| 4 | General corporate purposes | 27.65 |
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 1,795.57 | 1,613.44 | 1,318.21 | 1,097.70 |
| Total Income | 1,071.52 | 4,101.79 | 3,397.98 | 2,069.58 |
| Profit After Tax | 54.28 | 213.18 | 184.30 | 161.14 |
| NET Worth | 810.79 | 760.21 | 560.71 | 375.76 |
| Reserves and Surplus | 763.99 | 719.19 | 529.07 | 355.68 |
| Total Borrowing | 335.62 | 169.53 | 158.16 | 176.78 |
| Amount in ₹ Crore | ||||
| KPI | |
|---|---|
| ROE | 32.28% |
| ROCE | 41.19% |
| Debt / Equity | 0.22% |
| RoNW | 32.28% |
| PAT Margin | 5.20% |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 23.77 | |
| P/E (x) | 6.16 | |
| Promoter Holding | 87.50% | 64.63% |
| Market Cap | ₹1654.00 Cr. | |
