Gandhar Oil Refinery IPO: Know GMP today.
Unlisted shares of Gandhar Oil Refinery (India) Ltd continue to trade Rs 75 higher in the grey market, which is 44.38 per cent listing gain from the public issue
Gandhar Oil Refinery IPO: The initial public offering of Gandhar Oil Refinery saw massive public subscription last week and its allotment date is tomorrow, November 28. The GMP for the company, which is likely to make stock market debut on December 5, currently stands at Rs 75, which indicates a 44.38 per cent listing gain as compared with the issue price of Rs 169 per share.
The Rs 500.69 crore IPO of Gandhar Oil Refinery (India) last week received 64.07 times subscription on the final day of bidding on Friday. The initial public offering (IPO) got bid for 1,36,09,99,464 shares against 2,12,43,940 shares on offer, as per data available with the NSE.
The category for qualified institutional buyers (QIBs) attracted 129 times subscription, while the portion meant for non institutional investors subscribed 62.23 times. The part for retail individual investors (RIIs) received 28.95 times subscription. The IPO was a fresh issue of up to Rs 302 crore and an offer for sale of up to 1,17,56,910 equity shares. The price band for the IPO was Rs 160-169 a share.
Gandhar Oil Refinery IPO GMP
According to market observers, unlisted shares of Gandhar Oil Refinery (India) Ltd continue to trade Rs 75 higher in the grey market as compared with its issue price. The Rs 75 grey market premium or GMP means the grey market is expecting a 44.38 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
The price band of the IPO has been fixed at Rs 160-169 per share.
Source: News18