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Selling shareholders in the OFS include promoters Bipinbhai Vithalbhai Hadvani and Gopal Agriproducts, along with investor Harsh Sureshkumar Shah.

Gandhar Oil IPO's price band was set at Rs 160-Rs 169 per share, with a lot size of 88 shares.

Notably, the firm has already secured Rs 643 crore from anchor investors at the upper price band, constituting a significant portion of the total issue size.

Before the public offering, the non-banking financial company (NBFC) successfully raised Rs 324.67 crore from 22 anchor investors.

The IPO comprises a fresh issue of 96.05 lakh shares valued at Rs 292 crore and an offer-for-sale of 99.01 lakh shares amounting to Rs 301 crore.

In terms of allocation, half of the net issue is earmarked for qualified institutional buyers, 15% for HNIs, and the remaining 35% for retail investors.

TVS Motor Partners with Minh Long Motors to Enter Vietnam's Two-Wheeler Market

The data also showed core personal consumption expenditures (PCE), the Fed's preferred inflation gauge, rose 0.2% in October, below expectations.

The U.S. Federal Reserve is expected to raise interest rates by 75 basis points next week, while the European Central Bank is also expected to tighten policy.

Treasury yields, which are the interest rates paid on US government bonds, have also been retreating in recent weeks.