Gandhar Oil Limited is a prominent manufacturer of white oils that caters to the consumer and healthcare end-industries. As of June 30, 2022, the company offers an extensive range of over 350 products that primarily fall under three categories - personal care, healthcare and performance oils (PHPO), lubricants, and process and insulating oils (PIO) - under the brand name "Divyol".
The company's products serve as crucial ingredients for various end products in sectors such as consumer goods, healthcare, automotive, industrial, power, tyre, and rubber, and are used by leading Indian and global companies.
As of June 2022, company has catered to 100 countries across the globe. The company served more than 3500 clients including companies like Procter & Gamble ("P&G"), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami and Amrutanjan Healthcare.
2. Objects of the Issue
The Offer comprises the Fresh Issue and the Offer for Sale. The company will not receive any proceeds from the Offer for Sale and the proceeds received from the Offer for Sale will not form part of the Net Proceeds. The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
Investment in Texol by way of a loan for financing the repayment/pre-payment of a loan facility availed by Texol from the Bank of Baroda;
Capital expenditure through purchase of equipment and civil work required for (i) expansion in capacity of automotive oil at the company's Silvassa Plant; (ii) expansion in the capacity of petroleum jelly and accompanying cosmetic product division at the company's Taloja Plant; and (iii) expansion in capacity of white oils by installing blending tanks at the company's Taloja Plant;
Funding working capital requirements of the Company; and
General corporate purposes.
3.Gandhar Oil Refinery India IPO Registrar
Link Intime India Private Ltd