Gandhar Oil Refinery IPO itemizing right now.
Gandhar Oil Refinery (India) Ltd’s shares began buying and selling at Rs 295.40 apiece on the BSE and Rs 298 on the NSE, towards the difficulty worth of Rs 169 per share
Gandhar Oil Refinery IPO Listing: Gandhar Oil Refinery (India) Ltd on Thursday made a inventory market debut with 75 per cent IPO itemizing features, increased than the anticipated. Gandhar’s shares began buying and selling at Rs 295.40 apiece on the BSE and Rs 298 on the NSE, towards the difficulty worth of Rs 169 per share.
After itemizing at Rs 295.40 on the BSE, Gandhar Oil Refinery India’s shares rose additional and have been buying and selling at Rs 305 as of 11:04 am, which is 80.47 per cent increased than its concern worth and three.25 per cent greater than the scrip’s opening worth.
Prashanth Tapse, senior VP (analysis) at Mehta Equities Ltd, stated, “This is solid listing gain above our expectation for a leading manufacturer of white oils, Gandhar Oil. It is mainly on the back of reasonable IPO valuation when compared to its peers which were trading high.”
Post itemizing, the valuation hole has narrowed to Gandhar friends and, therefore, we count on restricted upside from the present ranges. “We recommended allotted investors to book listing day profits, which is over and above our expectations.”
Shivani Nyati, head of (wealth) at Swastika Investmart, stated, “Gandhar Oil Refinery India Limited made its stock market debut, by listing on the BSE and NSE at Rs 298 per share, nearly 76 per cent higher than its IPO price of Rs 169.”
The IPO was subscribed 64.05 occasions, which is considerably increased than the anticipated. This robust response from traders could possibly be as a consequence of a lot of elements, together with the corporate’s robust observe file of progress and profitability, its diversified buyer portfolio, and its robust distribution community, she stated.
Overall, the itemizing of Gandhar Oil Refinery India Limited is a hit. The firm’s robust fundamentals, sturdy demand for the IPO, and powerful itemizing worth recommend that the corporate is nicely-positioned for progress sooner or later, she added.
“However, investors may consider to book profit in it once,” Nyati stated.
Gandhar Oil Refinery IPO, which was opened for public subscription between November 22 and November 24, obtained a robust 65.63 occasions subscription. The worth vary for the supply stood at Rs 160-169 a share.
Meanwhile, shares of Tata Technologies Ltd on Thursday additionally made a stellar debut at Dalal Street. The Tata Group inventory was listed at Rs 1,200, a premium of 140 per cent, over its concern worth Rs 500 on the National Stock Exchange. Whereas, it was listed at a premium of 140 per cent at Rs 1199.95 towards the identical concern worth on BSE.
