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Business News/ Markets / Stock Markets/  Gandhar Oil IPO: Here’s what GMP signals as focus shifts to allotment date
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Gandhar Oil IPO: Here’s what GMP signals as focus shifts to allotment date

The basis of the allotment of shares is set to be finalised on November 30. Gandhar Oil Refinery shares are likely to be listed on the BSE and NSE on December 5.

Gandhar Oil IPO: The IPO received a strong response from investors. (iStock)Premium
Gandhar Oil IPO: The IPO received a strong response from investors. (iStock)

The bidding for Gandhar Oil's initial public offer (IPO) ended on Friday, November 24. The IPO received a strong response from investors. The issue was subscribed to by 64 times in its three-day bidding process.

Its retail portion got subscribed to 28.95 times. The non-institutional investor or NII portion of the public issue got subscribed to 62.23 times while its qualified institutional buyer or QIB segment got subscribed to by a whopping 129 times.

Gandhar Oil IPO: How to check allotment status?

The basis of the allotment of shares is set to be finalised on November 30. Gandhar Oil Refinery shares are likely to be listed on the BSE and NSE on December 5.

Investors who took part in the 500.69 crore IPO can verify the status of their application through two online methods: either on the BSE website or on the registrar's website.

On BSE:

  1. Go to the BSE website.
  2.  Select ‘Equity’ and then from the dropdown, select the issue name.
  3. Enter your application number and PAN card number.
  4. Click on the "Search" button.

On its registrar's website:

1) Go to the website of Link Intime.

2) Click on ‘Company Selection’ and then select the IPO name.

3) Now, enter your PAN, application number, DP / Client ID, or account number / IFSC.

4) Click on ‘Search’.

Gandhar Oil IPO GMP today

Subsequent to a robust reaction from investors, the share price of Gandhar Oil has continued to gather momentum in the unlisted stock market. According to market observers, shares of Gandhar Oil Refinery Ltd are available at a premium of 68 in the grey market today.

Observers went on to add that Gandhar Oil IPO grey market premium (GMP) has risen from around 30 percent to 45 percent in the last one week. They went on to add that strong Gandhar Oil IPO subscription status is one of the major reasons for the grey market going further bullish on the issue.

 

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Published: 27 Nov 2023, 06:01 PM IST
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