On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar’s website. Here’s how you can check the status on BSE.
Step 1: Visit the BSE Website
Step 2: Please select the issue name, that is the company’s name in the drop down.
Step 3: Enter the application number or PAN number to check the allotment status.
The company’s shares are expected to get listed on the exchanges on November 30. According to market sources, Gandhar Oil is commanding a premium of Rs 76 in the unlisted market.
Considering the upper price band of Rs 500, the stock is likely to debut with a premium of 43%.The IPO of Gandhar Oil received healthy from investors with nearly 64 times subscription at close.
Gandhar Oil is a leading manufacturer of white oils with a growing focus on the consumer and healthcare end-industries. Its product suite comprised over 350 products primarily across the personal care, healthcare and performance oils, lubricants and process and insulating oils divisions under the Divyol brand.
The company is India’s largest manufacturer of white oils by revenue in FY22, including domestic and overseas sales and is one of the top five players globally in terms of market share in CY21.
Its clocked revenue of Rs 1070 crore in the June quarter and net profit was at Rs 44.8 crore.
The net proceeds from fresh issuance worth Rs 357 crore will be used towards financing the repayment/pre-payment of a loan facility, purchase of equipment and civil work, expansion in capacity of automotive oil, petroleum jelly, white oils by installing blending tanks, funding working capital requirements and general corporate purposes.
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