Gandhar Oil Refinery’s IPO fully subscribed

New Delhi: The initial public offer of Gandhar Oil Refinery (India) got fully subscribed within hours of opening for bidding on Wednesday. The Rs500.69 crore IPO received bids for 2,96,40,864 shares against 2,12,43,940 shares on offer, translating into 1.40 times subscription, as per data available with the NSE till 1145 hrs. The portion for Retail Individual Investors (RIIs) attracted 2.01 times subscription while the quota for non-institutional investors got subscribed 1.76 times. The IPO is a fresh issue of up to Rs302 crore and an offer-for-sale of up to 1,17,56,910 equity shares.