Date: October 01, 2026
Fundraising Details
GP Petroleums Limited announced Board approval for a strategic fundraise of up to ₹130 crores through the issuance of debt instruments. The fundraising consists of two components:
Non-Convertible Debentures (NCDs):
- Up to 300 NCDs with face value of ₹10 lakh each
- Aggregate amount: Up to ₹30 crores
- Duration: 36 months
Optionally Convertible Debentures (OCDs):
- Up to 1,000 OCDs with face value of ₹10 lakh each
- Aggregate amount: Up to ₹100 crores
- Duration: 18 months
Instrument Terms
- Both instruments will be issued to RevX Special Credit Opportunities Fund II on a private placement basis
- Coupon rate: 13% per annum, compounded monthly and paid quarterly
- Additional coupon: 1.5% payable on deemed date of allotment
- Instruments will be issued in one or more tranches
Purpose of Funds
The proceeds will be utilized to:
- Fund the Company's ongoing business expansion
- Fulfill working capital requirements
- Accelerate growth plans (both organic and inorganic)
Regulatory Requirements
- The OCD issue is subject to necessary statutory approvals, including shareholders consent through upcoming postal ballot
- Equity shares arising from conversion of OCD are proposed to be listed on BSE and NSE
Management Commentary
Mr. Dilip Vaswani, Non-Executive Director, stated: \"The proposed financing will provide us with the financial agility to accelerate our growth plans, both organic and inorganic. It also reflects the confidence in our strategic vision to strengthen our market position in the hydrocarbon space while giving us the financial foundation towards unlocking long term value for our stakeholders.\"
Company Background
GP Petroleums Limited is engaged in the manufacture and marketing of industrial and automotive lubricants, process oils, greases and other specialty products under the IPOL brand. The company has over five decades of industry presence and serves industrial and automotive customers in India and overseas.