Gandhar Oil Refinery India IPO vs IREDA IPO

Comparision between Gandhar Oil Refinery India IPO and IREDA IPO.

IPO Details

Gandhar Oil Refinery India IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while IREDA IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Gandhar Oil Refinery India IPO	IREDA IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	ICICI Securities Limited Nuvama Wealth Management Limited	Idbi Capital Market Services Limited Bob Capital Markets Limited SBI Capital Markets Limited
Registrar	Link Intime India Private Ltd	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Gandhar Oil Refinery India IPO is up to ₹500.69 Cr whereas the issue size of the IREDA IPO is up to ₹2,150.21 Cr. The final issue price of Gandhar Oil Refinery India IPO is ₹169.00 per share and of IREDA IPO is ₹32.00 per share.

	Gandhar Oil Refinery India IPO	IREDA IPO
Face Value	₹2 per share	₹10 per share
Issue Price (Lower)	₹160.00 per share	₹30.00 per share
Issue Price (Upper)	₹169.00 per share	₹32.00 per share
Issue Price (Final)	₹169.00 per share	₹32.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	88 shares	460 shares
Fresh Issue Size	1,78,69,822 shares	40,31,64,706 shares
Fresh Issue Size (Amount)	up to ₹302.00 Cr	up to ₹1,290.13 Cr
OFS Issue Size	1,17,56,910 shares	26,87,76,471 shares
OFS Issue Size (Amount)	up to ₹198.69 Cr	up to ₹860.08 Cr
Issue Size Total	2,96,26,732 shares	67,19,41,177 shares
Issue Size Total (Amount)	up to ₹500.69 Cr	up to ₹2,150.21 Cr

IPO Timetable

Gandhar Oil Refinery India IPO opens on Nov 22, 2023, while IREDA IPO opens on Nov 21, 2023. The closing date of Gandhar Oil Refinery India IPO and IREDA IPO is Nov 24, 2023, and Nov 23, 2023, respectively.

	Gandhar Oil Refinery India IPO	IREDA IPO
Anchor Bid Date	Nov 21, 2023	Nov 20, 2023
Issue Open	Nov 22, 2023	Nov 21, 2023
Issue Close	Nov 24, 2023	Nov 23, 2023
Basis Of Allotment (Tentative)	Nov 28, 2023	Nov 24, 2023
Initiation of Refunds (Tentative)	Nov 29, 2023	Nov 25, 2023
Credit of Share (Tentative)	Nov 29, 2023	Nov 28, 2023
Listing date (Tentative)	Nov 30, 2023	Nov 29, 2023
Anchor Lockin End date 1	Dec 28, 2023	Dec 24, 2023
Anchor Lockin End date 2	Feb 26, 2024	Feb 22, 2024

Financials

Gandhar Oil Refinery India IPO P/E ratio is , as compared to IREDA IPO P/E ratio of 8.47.

Gandhar Oil Refinery India IPO

IREDA IPO

Financial

Gandhar Oil Refinery (India) Limited Financial Information (Proforma Consolidated)

Gandhar Oil Refinery (India) Limited's revenue increased by 20.71% and profit after tax (PAT) rose by 15.67% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Jun 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	1,795.57	1,613.44	1,318.21	1,097.70
Revenue	1,071.52	4,101.79	3,397.98	2,069.58
Profit After Tax	54.28	213.18	184.30	161.14
Net Worth	810.79	760.21	560.71	375.76
Reserves and Surplus	763.99	719.19	529.07	355.68
Total Borrowing	335.62	169.53	158.16	176.78
Amount in ₹ Crore

Indian Renewable Energy Development Agency Limited Financial Information (Restated Standalone)

Indian Renewable Energy Development Agency Limited's revenue increased by 21.18% and profit after tax (PAT) rose by 36.48% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	51,208.36	50,446.98	36,708.41	30,293.39
Revenue	2,320.46	3,483.04	2,874.16	2,657.74
Profit After Tax	579.32	864.63	633.53	346.38
Net Worth	6,580.61	5,935.17	5,268.11	2,995.60
Reserves and Surplus	2,550.36	2,310.96	1,776.05	1,386.12
Total Borrowing	39,850.19	40,165.23	27,613.07	24,000.00
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

87.50%

100%

Promoter Shareholding (Post-Issue)

64.63%

75%

P/E Ratio

8.47

Market Cap

₹1654.00 Cr.

₹8600.85 Cr.

ROE

32.28%%

15.44%%

ROCE

41.19%%

Debt/Equity

0.22

6.77

EPS

₹23.77

₹3.78

RoNW

32.28%%

15.44%%

Shares Offered

In the Gandhar Oil Refinery India IPO retail investors (RII) are offered 1,03,69,356 shares while in IREDA IPO retail investors are offered 1,03,69,356 shares. Qualified institutional buyers (QIB) are offered 59,25,346 shares in Gandhar Oil Refinery India IPO and 13,40,13,152 shares in IREDA IPO.

	Gandhar Oil Refinery India IPO	IREDA IPO
Anchor Investor Reserveration	88,88,018 shares	20,10,19,726 shares
Market Maker Reserveration
QIB	59,25,346 shares	13,40,13,152 shares
NII	44,44,010 shares	10,05,09,864 shares
RII	1,03,69,356 shares	23,45,23,015 shares
Employee	0 shares	18,75,420 shares
Others
Total	2,07,38,712 shares	47,09,21,451 shares

Bids Received (Subscription)

Gandhar Oil Refinery India IPO subscribed 65.63x in total, whereas IREDA IPO subscribed 38.80x.

	Gandhar Oil Refinery India IPO	IREDA IPO
QIB (times)	129.06x	104.57x
NII (times)	64.34x	24.16x
Big NII (times)	61.93x	26.99x
Small NII (times)	69.17x	18.50x
RII (times)	29.93x	7.73x
Employee (times)		9.80x
Other (times)
Total (times)	65.63x	38.80x

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