Gandhar Oil Refinery (India) IPO GMP History
Gandhar Oil Refinery (India) IPO has been listed on November 30, 2023 at a listing price of ₹298, against the issue price of ₹169 — a gain of ₹129 (+76.33%). The GMP peaked at ₹75 on 28 November 2023 and reached a low of ₹25 on 10 November 2023. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Gandhar Oil Refinery (India) IPO raised ₹500.69 Cr. through its IPO at a price band of ₹160 to ₹169 per share, with a lot size of 88 shares. The IPO was open for subscription from 22 Nov 2023 to 24 Nov 2023.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 10 Nov, 6:18 PM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 30 Nov 2023 | ₹ 68 | — | 40% | — | — |
| 29 Nov 2023 | ₹ 68 | ▼ | 40% | — | — |
| 28 Nov 2023 | ₹ 75 | — | 44% | — | — |
| 27 Nov 2023 | ₹ 75 | — | 44% | — | — |
| 25 Nov 2023 | ₹ 75 | ▲ | 44% | — | — |
| 24 Nov 2023 | ₹ 70 | ▲ | 41% | — | — |
| 23 Nov 2023 | ₹ 65 | ▲ | 38% | — | — |
| 22 Nov 2023 | ₹ 60 | ▲ | 36% | — | — |
| 21 Nov 2023 | ₹ 55 | ▲ | 33% | — | — |
| 20 Nov 2023 | ₹ 52 | ▲ | 31% | — | — |
| 18 Nov 2023 | ₹ 45 | ▼ | 27% | — | — |
| 17 Nov 2023 | ₹ 50 | ▲ | 30% | — | — |
| 16 Nov 2023 | ₹ 48 | ▲ | 28% | — | — |
| 15 Nov 2023 | ₹ 42 | ▼ | 25% | — | — |
| 14 Nov 2023 | ₹ 45 | ▲ | 27% | — | — |
| 11 Nov 2023 | ₹ 40 | ▲ | 24% | — | — |
| 10 Nov 2023 | ₹ 25 | — | 15% | — | — |
| 09 Nov 2023 | ₹ 25 | — | 15% | — | — |
Gandhar Oil Refinery (India) IPO dates
Key dates from opening to listing. Today is 11 November.
- Open 22 Nov 2023
- Close 24 Nov 2023
- Allotment 28 Nov 2023
- Refund/credit 29 Nov 2023
- Listing 30 Nov 2023
Gandhar Oil Refinery (India) IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹169 |
|---|---|
| GMP-based estimate (pre-listing) | ₹237 (+40.2%) |
| Listing gain / loss | +₹129 per share |
| Listing date | 30 Nov, 2023 |
| Actual listing price | ₹298 (+76.33%) |
Is Gandhar Oil Refinery (India) IPO GMP reliable?
Grey market premium for Gandhar Oil Refinery (India) IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Gandhar Oil Refinery (India) IPO full review for a fundamentals-based assessment before making any grey market trades.
Gandhar Oil Refinery (India) IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Gandhar Oil Refinery (India) IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Gandhar Oil Refinery (India) IPO
Gandhar Oil Refinery (India) Limited was incorporated as a private company at Mumbai on 7 October 1992. As per CRISIL, it is India's largest maker of white oils by revenue in Financial Year 2023 and one of the top five players globally by market share in 2022.
As of 30 June 2023 its range had over 440 products across personal care, healthcare and performance oils, lubricants, and process and insulating oils, under the Divyol brand. Its customers include Procter & Gamble, Unilever, Marico, Dabur, Patanjali Ayurved, Bajaj Consumer Care and Emami.
It runs manufacturing plants at Silvassa and Taloja in India and at Sharjah in the UAE.
The IPO was Rs 500.69 crore, with Rs 302.00 crore of fresh issue and Rs 198.69 crore of offer for sale by promoters, promoter group members and investors. Rs 185.01 crore was planned for working capital and Rs 27.73 crore for expanding the Silvassa plant.
Frequently asked
What is the GMP of Gandhar Oil Refinery (India) IPO?
The current Grey Market Premium (GMP) of Gandhar Oil Refinery (India) IPO is ₹ 68.
What is the Kostak Price of Gandhar Oil Refinery (India) IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Gandhar Oil Refinery (India) IPO is not available.
What is the Subject to Sauda Price of Gandhar Oil Refinery (India) IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Gandhar Oil Refinery (India) IPO?
Gandhar Oil Refinery (India) IPO listed on November 30, 2023 at ₹298, against the issue price of ₹169 — a gain of +76.33%.
How did the GMP of Gandhar Oil Refinery (India) IPO trend before listing?
The GMP of Gandhar Oil Refinery (India) IPO was stable in its final days before listing. The GMP peaked at ₹75 on 28 November 2023. View the day-wise table above for the complete GMP history.
Explore Gandhar Oil Refinery (India) IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
