JG Chemicals on Monday mentioned it has collected over Rs 75 crore from anchor traders, a day earlier than IPO. (Representative picture)
JG Chemicals IPO: Investors can bid for no less than 67 fairness shares and in multiples of 67 fairness shares thereafter.
Zinc oxide producer JG Chemicals IPO opened for subscription immediately, March 5, 2024, and can shut on March 7, 2024. The preliminary share sale will open for public subscription in the course of the interval. The bidding for anchor traders was opened for a day on March 4.
JG Chemicals IPO Price Band
JG Chemicals fastened a value band of Rs 210-221 apiece for its Rs 251-crore Initial Public Offering.
JG Chemicals IPO Issue Size
The Rs 251.2-crore IPO contains a contemporary difficulty of fairness shares value as much as Rs 165 crore and an Offer For Sale (OFS) of 39 lakh fairness shares aggregating to Rs 86.2 crore, on the higher finish of the worth band, by the promoter group.
As a part of the OFS, Vision Projects & Finvest Pvt Ltd, Suresh Kumar Jhunjhunwala (HUF), Anirudh Jhunjhunwala (HUF) and Jayanti Commercial Ltd will offload fairness shares.
JG Chemicals IPO Objective
Proceeds from the contemporary difficulty to the tune of Rs 91 crore will probably be utilised for investing in JG Chemicals’ materials subsidiary BDJ Oxides and Rs 35 crore will probably be used for funding the lengthy-time period working capital necessities of the corporate, in addition to, a portion will probably be used for normal company functions.
JG Chemicals IPO GMP
GMP, within the context of an IPO, stands for Grey Market Premium. It’s an unofficial determine that signifies the unlisted value of the shares at which they’re being traded within the unregulated gray market. This value is set by provide and demand amongst traders earlier than the official itemizing on the inventory trade.
GMP Of JG Chemicals IPO: Rs 50.
GMP is unofficial and never indicative of the particular itemizing value. It’s essential to conduct thorough analysis on the corporate, the IPO particulars, and the general market situations earlier than making any funding choices.
About JG Chemicals
The Kolkata-based agency is India’s largest zinc oxide producer when it comes to manufacturing and income. It sells over 80 grades of zinc oxide and is among the many high ten producers of zinc oxides globally.
The tyre trade in India is the biggest shopper of its product.
The agency additionally provides to main paint producers, footwear gamers, and cosmetics gamers within the nation.
Half of the problem measurement has been reserved for certified institutional consumers, 15 per cent for non-institutional traders, and the remaining 35 per cent for retail traders.
Investors can bid for no less than 67 fairness shares and in multiples of 67 fairness shares thereafter.
Centrum Capital Ltd, Emkay Global Financial Services Ltd and Keynote Financial Services Ltd are the e book-working lead managers to the problem.
The fairness shares of the corporate are proposed to be listed on each BSE and NSE.
JG Chemicals on Monday mentioned it has collected over Rs 75 crore from anchor traders, a day earlier than IPO.
The firm has allotted 34.09 lakh shares to 4 funds at Rs 221 apiece, which can be the higher finish of the worth band, in line with a round uploaded on BSE’s web site.
At this value, the corporate has garnered Rs 75.36 crore from anchor traders.
Massachusetts Institute of Technology, Carnelian Structural Fund, Pinebridge Global Funds and SBI General Insurance Company have been among the many anchor traders.
