Nuvama Investment Banking acted as the Left Lead Book Running Lead Manager to the INR 5,000 mn IPO of Gandhar Oil Refinery

Initial Public Offering

Service

December 2023

Date

Industrials

Sector

INR 5007 MN

Deal Value

Nuvama Investment Banking acted as the Left Lead Book Running Lead Manager to the INR 5,000 mn IPO of Gandhar Oil Refinery

Deal Details

  • Deal saw strong participation across investor categories garnering more than INR 23,000 crs
    • QIB* – ~129x, HNI – ~64x, Retail – ~29x
  • Company saw stellar IPO Listing with equity shares opening at 76%# premiumandwas amongst the Top 5 IPOs^ in terms of listing day gains in CY 2023 showcasing investor confidence in Company’s business and management team

Contribution

  • As the left-lead banker, hand-held the Company in end-to-end execution, swift regulatory approvals, thereby ensuring timely launch
  • Nuvama played a central role in the IPO by bringing key cornerstone investors completelydriving the momentum of the issue
  • Dominated procurement in the Anchor in a 2 bank syndicate – Highest overall share of ~66%in terms of amount procured and 62%in terms of number of anchor investors converted
  • Pushed the story aggressively through our distribution channel to garner strong interest in HNI & Retail category resulting in 28 lakh+ applications