<p><span style="font-size: 1rem;">According to the draft red herring prospectus, the IPO comprises a fresh issue of equity shares of ₹ 357 Cr. and an offer for sale (OFS) of 1.2 Cr. (12,036,380) shares by the promoters and current shareholders (DRHP). This is anticipated to dilute 25% of the net shareholding, according to market sources. To oversee the company's IPO, Edelweiss Financial Services and ICICI Securities have been chosen as merchant bankers. Promoters Ramesh Babulal Parekh, Kailash Parekh, and Gulab Parekh, along with other shareholders Fleet Line Shipping Services LLC, IDFC First Bank Limited, and Green Desert Real Estate Brokers, are among those selling shares in the OFS. The fresh issue component's proceeds will be used to pay off debt, purchase equipment, and complete the necessary civil work for the Silvassa plant's expansion of its automotive oil capacity, the company's Taloja plant's capacity addition of its petroleum jelly and accompanying cosmetic product division, and the company's Taloja plant's capacity expansion of its white oils by installing new equipment.</span><br></p><p>Leading producer of white oils, Gandhar Oil Refinery is increasingly focusing on the consumer and healthcare end-industries. The company's product lineup included approximately 350 items as of June 30, 2022, mostly in the personal care, healthcare, and performance oils, lubricants and process and insulating oils divisions under the Divyol Brand.</p><div><div><span style="font-size: 1rem;"><br></span></div><div><i><span style="font-size: 1rem;">NB: The Company has declared in its DRHP that it may, in consultation with the Book Running Lead Managers, undertake a further issue of specified securities through a&nbsp;</span><span style="font-size: 1rem;">private placement, preferential issue or any other method as may be permitted under applicable law to any person(s), for cash&nbsp;</span><span style="font-size: 1rem;">consideration aggregating up to ₹ 700 million, at its discretion, prior to the filing of the Red Herring Prospectus with the RoC (“Pre-IPO&nbsp;</span><span style="font-size: 1rem;">Placement”). The price of the specified securities allotted pursuant to the Pre-IPO Placement shall be determined by the company, in&nbsp;</span><span style="font-size: 1rem;">consultation with the Book Running Lead Managers. If the Pre-IPO Placement is completed, the Fresh Issue size will be reduced to the&nbsp;</span><span style="font-size: 1rem;">extent of such Pre-IPO Placement, subject to compliance with Rule 19(2)(b) of the SCRR.&nbsp;</span></i></div><div><br></div></div><div><br></div>

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