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News Details

17/11/2023 14:42

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Gandhar Oil Refinery announces launch of initial public offering

Gandhar Oil Refinery (India) Ltd. has announced public offering of 29626732 shares at a price of Rs 2.00 each for Cash at a Premium of Rs 167.00 per share. The gross proceeds of the issue are expected to be Rs 50,069.18 lakhs.

The company's initial public offer (IPO) will open on 22 November 2023 and is expected to close on 24 November 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 160.00-169.00 per share.

The IPO includes a fresh Issue of 29626732 Equity Shares of the Company at an price of Rs 169.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 88 shares with bids in multiples of 88.

Gandhar Oil Refinery (India) Ltd. anticipates using the proceeds of the issue for .

ICICI SECURITIES LTD,Nuvama Wealth Management Ltd. as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.