Gandhar Oil Refinery India Ltd (Ticker: GANDHAR IN) is an Indian company in the Oil Refining industry, specializing in the production of a wide range of specialty oils and lubricants, including white oils, waxes, jellies, automotive oils, industrial oils, transformer oils, and rubber processing oils, marketed under the flagship brand “Divyol”. The company has a significant market share in the Indian oil industry and a strong global presence, catering to a diverse and extensive customer base. Announced on November 15, 2023, the company is preparing for an Initial Public Offering on the National Stock Exchange of India. Gandhar Oil Refinery India Ltd, a leading manufacturer in specialty oils, aims to raise INR 5.01 billion (USD 60.22 million) through this offering.

The IPO is managed by Edelweiss Securities Pvt Ltd and ICICI Securities Ltd. The company plans to offer 29.63 million shares, with a proposed price range of INR 160.00 to 169.00 (USD 1.92 to 2.03). The expected listing date is December 5, 2023. The share offering consists of 60.32% primary shares (17.87 million) and 39.68% secondary shares (11.76 million).