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The proceeds from the IPO will be used to repay loans, procure equipment and civil work, expand capacity for automotive oil, petroleum jelly, white oils under the Divyol brand, meet working capital requirements, and fund corporate activities. Gandhar Oil is the top white oils manufacturer in India by FY22 revenue and ranks among the top five global players.
The company operates three facilities in locations including the Union Territory of Silvassa and Sharjah with a total production capacity of 522,403 KL. Half of the offer is reserved for qualified institutional buyers while 35% is set aside for retail investors.
The IPO comes as part of Gandhar Oil’s broader strategy to expand its footprint in the global white oils market. The company’s strong position in the domestic market and its ambitious growth plans are likely to attract significant investor interest in the upcoming public offering.
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