Gandhar Oil Refinery
Gandhar Oil Refinery shares are commanding 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.
If the trends are sustained, the stock is expected to list at a healthy premium of 36%.
The offer 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, Fleet Line Shipping will offload shares.
About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.
Gandhar Oil is a leading manufacturer of white oil with a growing focus on the consumer and healthcare end industries. Its product suite comprised over 350 items primarily across the personal care, healthcare and performance oils, lubricants and process and insulating oils divisions under the Divyol brand.
In the grey market, Flair Writing is fetching a premium of Rs 60 ahead of the issue opening.
This compares with the upper price band of Rs 304.
The IPO comprises fresh issue of Rs 292 crore and an OFS of Rs 301 crore. Under the OFS segment, Khubilal Jugraj Rathod will offload shares worth Rs 76 crore, Vimalchand Jugraj Rathod will sell up to Rs 57 crore.