The IPO of Gandhar Oil comprises a fresh equity issue of Rs 302 crore and an offer for sale (OFS) of 1.17 crore shares. Under the OFS, promoter-selling shareholders Kailash Parekh, Gulab Parekh, and other selling shareholders Green Desert Real Estate, and Fleet Line Shipping among others will offload shares
The IPOs of Gandhar Oil Refinery and Flair Writing Industries have been oversubscribed on the back of favourable analyst commentary. However, Fedbank Financial Services IPO has been subscribed 57% so far on the second day of the bidding process.
Ahead of the issue launch, Gandhar Oil Refinery shares were trading at a premium of Rs 61 in the unlisted market, according to market analysts. The price band of this public issue is fixed at Rs 160-169.
The IPO of Gandhar Oil comprises a fresh equity issue of Rs 357 crore and an offer for sale (OFS) of Rs 143 crore. Under the OFS, promoter-selling shareholders Kailash Parekh, Gulab Parekh, and other selling shareholders – Green Desert Real Estate, and Fleet Line Shipping among others will offload shares.