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GP Petroleums’ Board approves fundraise of upto Rs 130 crores via NCDs, OCDs to accelerate growth
Oct-03-2026

GP Petroleums has received Board approval for a proposed upto Rs 130 crore fundraise through issue of non-convertible debentures (NCDs) and optionally convertible debentures (OCDs). The company plans to utilize the proceeds to fund the company’s ongoing business expansion and fulfil its working capital requirements.

The company will issue upto 300 NCDs aggregating upto Rs 30 crore for 36 months and upto 1,000 OCDs aggregating upto Rs 100 crore for 18 months, each with a face value of Rs 10 lakh. Both instruments will be issued to RevX Special Credit Opportunities Fund II on a private placement basis. Both instruments will be issued in one or more tranches. The OCD issue is subject to necessary statutory approvals, including shareholders consent through the upcoming postal ballot.

Equity shares arising from conversion of OCD are proposed to be listed on BSE and NSE. The NCDs and OCDs carry a coupon rate of 13% per annum, compounded monthly and paid quarterly. Additionally, the company will pay 1.5% of additional coupon on deemed date of allotment. 

GP Petroleums is a leading lubricant player, specializes in industrial & automotive lubricants, process oils, transformer oils, greases and other specialties under the brand name IPOL in India and overseas market. 


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