GP Petroleums Board Approves ₹130 Crore Fundraise via NCDs and OCDs to RevX

Key numbers

Total Fund Raise	₹130.00 CrNCDs & OCDs
Market Cap	₹309.48 CrOil & Gas
TTM Net Profit	₹40.62 CrTrailing 12 Months
Day RSI	44.68Neutral Zone

Key highlights

• Issuance of 300 Secured Non-Convertible Debentures (NCDs) worth ₹30 crore
• Issuance of 1,000 Optionally Convertible Debentures (OCDs) aggregating to ₹100 crore
• Both instruments carry a 13% per annum coupon rate, compounded monthly and paid quarterly
• Capital sourced from RevX Special Credit Opportunities Fund II, a non-promoter entity
• Funds designated to support working capital requirements and business growth initiatives

What Is the Fund Raise?

The board of GP Petroleums approved the issuance of two distinct debt instruments on a private placement basis. The first component involves Non-Convertible Debentures (NCDs) worth ₹30 crore with a 36-month tenure from the deemed date of allotment. The second involves Optionally Convertible Debentures (OCDs) totaling ₹100 crore with a maximum tenure of 18 months.

Both instruments feature a coupon rate of 13% per annum, complemented by an additional 1.50% coupon payable on the disbursement date. While the debentures themselves will remain unlisted, equity shares resulting from potential OCD conversions are proposed for listing on the BSE and NSE.

Strategic Rationale and Use of Proceeds

GP Petroleums intends to deploy the ₹130 crore in aggregate proceeds to support its immediate working capital requirements and long-term business growth strategies. The structured financing provides a significant liquidity buffer, with the OCDs offering an option for conversion into equity at a predetermined price. Specifically, the investor holds the right to convert OCDs representing up to 10% of the outstanding exposure or ₹10 crore, whichever is higher, into fully paid-up equity shares.

This strategic move allows the company to secure long-term capital while maintaining flexibility in its debt-to-equity structure during its current expansion phase.

Financial and Market Context

• The company reported a trailing twelve-month (TTM) revenue of ₹714.65 crore and a net profit of ₹40.62 crore.
• Quarterly revenue for the period ending June 2026 grew by 45.51% year-on-year, indicating strong operational momentum.
• The current P/E ratio stands at 7.62, compared to the industry average of 11.97 for the Oil Marketing & Distribution sector.
• GP Petroleums maintains a Durability Score of 70 and a Valuation Score of 71.17, classifying it as a strong performer in market data assessments.
• Promoter holding remains stable at 37.05% with zero percentage of shares pledged as of the latest reporting cycle.

Business Overview

GP Petroleums Limited, a subsidiary of the UAE-based GP Global Group, is a prominent player in the Indian lubricant industry. The company manufactures and markets a wide range of industrial and automotive lubricants, process oils, and greases under its flagship brand, IPOL. Operating from its blending plant in Vasai, the company serves diverse industrial segments including automotive, rubber, and general manufacturing.

This new capital infusion is positioned to help the firm leverage its established distribution network and IPOL brand equity to capture a larger share of the recovering industrial lubricants market.

GP Petroleums · financial snapshot

Share price	₹60.7
Market capitalisation	₹309.48
Revenue (annual)	₹642.61
Net profit (annual)	₹26.47
P/E (TTM)	7.62×Sector 18.08×
Promoter holding	37.05%0.00% QoQ
FII holding	0.37%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.