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Business News/ Markets / Ipo/  Gandhar Oil IPO listing date today. GMP, experts signal up to 40% premium
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Gandhar Oil IPO listing date today. GMP, experts signal up to 40% premium

Gandhar Oil IPO GMP today: Shares of white oil maker company are available at a premium of ₹68 in grey market today, say market observers

Gandhar Oil IPO listing date has been fixed on 30th November 2023 i.e. today. (Photo: Courtesy company website)Premium
Gandhar Oil IPO listing date has been fixed on 30th November 2023 i.e. today. (Photo: Courtesy company website)

Gandhar Oil IPO: Listing date of the initial public offering (IPO) of Gandhar Oil Refinery Ltd has been fixed on 30th November 2023 i.e. today. As per the information available on BSE website, Gandhar Oil share price will hit Dalal Street during Thursday deals. According to BSE notice, Gandhar Oil IPO will list on BSE and NSE in special pre-open session on BSE and NSE.

According to stock market experts, Gandhar Oil IPO received strong response from investors and it is expected to list at strong premium as well. They said that stock market mood is also optimistic and that also fancies and additional benefit for the public issue. They went on to add that Gandhar Oil IPO may list at around 58 to 68 premium, which means an allotte may expect up to 40 per cent listing gain from Gandhar Oil IPO.

Gandhar Oil IPO listing price prediction

Speaking on Gandhar Oil IPO listing, Rajan Shinde, Research Analyst at Mehta Equities said, "Leading manufacturer of white oils, Gandhar Oil received a better than expected subscription demand mainly on the back of reasonable IPO valuation when compared to its peers which are trading high, scalable business model and enjoying a dominant market share with a niche product portfolio of 440 products catering to diverse consumers and healthcare worldwide."

On Gandhar Oil IPO listing gain that an allottee can expect, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, "There is no doubt that Gandhar Oil IPO listing would be strong. But, it may not give Tata Technologies like listing gain. However, I believe that allottees may get 58 to 68 listing gain from Gandhar Oil IPO. So, Gandhar Oil IPO listing price would be in 227 to 237 per share range."

Expecting strond listing of Gandhar Oil shares, Rajan Shinde of Mehta Equities said, "Considering the subscription figures and rationale to the offer we had recommended investors to subscribe for listing gain only, Hence, we believe a healthy listing gain between 30-40% possible against the issue price of 169/- per share giving a good room of listing gains due to valuation gap between listed peers and Gandhar Oil. We think the company has created a niche place in white oil and serving diversified industrial users which gives this company an edge against the peers in the segment."

Gandhar Oil IPO GMP today

Market observers said that shares of Gandhar Oil Refinery Ltd are available at a premium of 688 in grey market today. This means Gandhar Oil IPO grey market premium (GMP) today is 68. So, grey market is signaling that Gandhar Oil IPO listing price would be around 227 apiece levels.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 30 Nov 2023, 06:23 AM IST
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