Upcoming IPOs: These two companies fixed the price band of IPO
Next week, investors will get a chance to invest in two IPOs. The IPO of Gandhar Oil Refinery and Flare Writing Industries Limited will open on 22nd November. Both companies have fixed price bands for the IPO. Gandhar Oil Refinery (India) Limited (Gandhar Oil Refinery IPO) has set the price band at Rs 160-169 per share for its Rs 500.69 crore IPO. At the same time, Fedfina has fixed the price band of its issue at Rs 133-140 per share.
Gandhar Oil IPO
The IPO of Gandhar Oil Refinery will open on 22nd November and close on 24th November. Anchor investors will be able to place bids for shares on November 21, a day before the IPO opens. Investors can bid for a minimum of 88 equity shares and at multiples of 88 thereafter. The IPO will include a fresh issue of Rs 302 crore and 1.17 crore OFS equity shares.
Flair IPO
Its IPO will open for public subscription on November 22, while the closing date will be November 24. The allotment for anchor investors will take place on Tuesday 21st November. The company has fixed the price band for the IPO at Rs 288 to Rs 304 per equity share. The face value of the shares is Rs 5. One lot of Flare IPO will consist of 49 equity shares. Investors will then be able to bid at multiples of 49 equity shares.