has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).The Company’s initial public offering comprises a fresh issue of up to Rs.357 crores and an offer for sale of up to 12,036,380 equity shares by selling shareholders.

Gandhar Oil Refinery (India) limited, a leading manufacturer of white oils by revenue with a growing focus on the consumer and healthcare end-industries,

Gandhar Oil Refinery (India) Limited  is India’s largest manufacturer of white oils by revenue in FY22, including domestic and overseas sales and is one of the top five players globally in terms of market share in CY21 (Source: Crisil Report).

As of June 30, 2022, the product suite comprises of over 350 products primarily across the personal care, healthcare and performance oils (“PHPO”), lubricants and process and insulating oils (“PIO”) divisions under the “Divyol” brand. The products are used as for the manufacture of end products in the consumer, healthcare, automotive, industrial, power and tyre and rubber sectors.

The products are sold in over 100 countries across the globe, catering to 3,529 customers in the FY22, including leading Indian and global companies such as Procter & Gamble (“P&G”), Unilever, Marico, Dabur, Encube, PatanjaliAyurved, Bajaj Consumer Care, Emami and Amrutanjan Healthcare.