Exciting opportunities await investors as two companies unveil the price bands for their upcoming Initial Public Offerings (IPOs).
Gandhar Oil Refinery (India) Limited and Fedfina have set their respective price bands for IPO subscriptions, with the former opening on November 22.
Get ready for a dynamic week in the stock market with these anticipated offerings.
Gandhar Oil Refinery IPO Details:
Price Band: Rs 160-169 per share
IPO Size: Rs 500.69 crore
Opening Date: November 22
Closing Date: November 24
Anchor Investor Bidding: November 21
Minimum Bid: 88 equity shares, in multiples of 88 thereafter
Gandhar Oil Refinery’s IPO will involve the issuance of new equity shares worth Rs 302 crore.
Additionally, an Offer for Sale (OFS) of 1.17 crore shares held by promoters and existing shareholders will be part of the offering. The company aims to raise Rs 500.69 crore at the upper price band.
Known for being a major producer of white mineral oil, this IPO follows those of Indian Renewable Energy Development Agency (IREDA) and Tata Technologies.
Fedfina IPO Details:
Price Band: Rs 133-140 per share
IPO Size: Up to Rs 1,092 crore
Opening Date: November 22
Closing Date: Three days from the opening
MD & CEO Statement: Market sentiment won’t impact the offer, despite increased borrowing costs due to RBI circular on unsecured loans.
Fedbank Financial Services (Fedfina), a subsidiary of Federal Bank of the South, is set to raise up to Rs 1,092 crore through its IPO.
The price band is fixed at Rs 133-140 per share, and the IPO will open on November 22, running for three days.
The offering includes new shares worth Rs 600 crore and an additional offer for sale.
