Gandhar Oil IPO Shatters Records: 64x Subscription Sparks Investor Frenzy
Exciting news in the financial arena! The Gandhar Oil’s IPO bidding closed on November 24 with an incredible response from investors. The three-day bidding process witnessed a remarkable 64 times subscription, reflecting the immense interest in the company’s public offering.
Particularly noteworthy is the retail portion, which saw a subscription rate of 28.95 times. Non-institutional investors (NII) were equally enthusiastic, subscribing 62.23 times, while the qualified institutional buyer (QIB) segment witnessed an astounding 129 times subscription, underscoring the overwhelming demand for Gandhar Oil’s shares.
This positive momentum has extended beyond the bidding phase. In the unlisted stock market, Gandhar Oil’s shares are currently trading at an impressive premium of ₹68, a significant increase from the past week. Market observers attribute this surge to the growing confidence in the company, fueled by its robust IPO subscription status.
The Gandhar Oil IPO’s grey market premium (GMP) has experienced a substantial boost, climbing from 30 percent to a whopping 45 percent in just one week. Analysts believe that the strong subscription status is a key driver behind this bullish trend in the grey market, indicating a promising future for Gandhar Oil Refinery Ltd. Stay tuned for more updates as the market buzz around Gandhar Oil continues to unfold!
