Gandhar Oil Refinery Raises Rs 150 Crore From Anchor Investors Ahead Of IPO

Gandhar Oil Refinery Ltd. has raised Rs 150.2 crore from anchor investors ahead of its initial public offering.

The state-run company has allotted 88.88 lakh equity shares at Rs 169 apiece to 16 anchor investors.

The major investors include ICICI Prudential ELSS Tax Saver Fund, HDFC Mutual Fund, Whiteoak Capital Flexi Cap Fund, Morgan Stanley Asia (Singapore) Pte, Societe Generale, and Aditya Birla Sun Life Insurance Co., among others.

Both ICICI Prudential ELSS Tax Saver Fund and HDFC Mutual Fund secured 17.8% each of the total allocation, the highest in the list.

Three domestic mutual funds have applied through a total of seven schemes, the company said in an exchange filing. They have collectively netted 47.58% of the anchor portion of Rs 71.4 crore.

Nuvama Wealth Management Ltd. and ICICI Securities Ltd. are the book-running lead managers for the offer.

Leave a Comment