Application for JG Chemicals Limited IPO will start from March 5.
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JG Chemicals Limited IPO: Zinc oxide manufacturing company JG Chemicals is bringing its IPO in the market. The company is trying to raise Rs 251 crore through its IPO. JG Chemicals has released the price band of its IPO today. The company has fixed the price band of Rs 210-221 per share for this. Investors got three days to invest money for this IPO. The last date for application has been kept as 7th March. Before this, anchor investors will be able to place bids for the company’s shares on March 4. It is being told that the company’s performance has been good in this financial year. In such a situation, investors can make profits in the listing. The company currently has around 200 domestic customers and 50 foreign customers in 10 countries of the world. This makes the company’s global presence stronger.
Read Also: Huge earning IPO opened in the market today, know this important thing before investing money.
What are the details of IPO?
JG Chemicals Limited IPO The size is Rs 251.2 crore. Out of this, new equity shares worth Rs 165 crore will be issued. Apart from this, it will also include Offer for Sale (OFS) of 39 lakh shares worth up to Rs 86.2 crore. Under the OFS, Vision Projects & Finvest Private Limited, Suresh Kumar Jhunjhunwala (HUF), Anirudh Jhunjhunwala (HUF) and Jayanti Commercial Limited will offer equity shares. The allotment of shares will be done by the company on March 11. Whereas, the refund process will start on March 12. On the same day the shares will be sent to the demat account of the investors.
What will the company do with the money received from IPO?
The proceeds of Rs 91 crore from the fresh issue will be used for investment in BDJ Oxides, the materials subsidiary of JG Chemicals, and Rs 35 crore will be used to finance the long-term working capital needs of the company. Apart from this, a part will be kept for general company functioning. This Kolkata-based company is the largest zinc oxide manufacturer in the country in terms of production and revenue. It is proposed to list the company’s shares on BSE and NSE.
When will the shares be listed?
The company is going to be listed in National Stock Exchange and Bombay Stock Exchange. It is expected that its listing is likely to happen on March 13.
How much will have to be invested
For JG Chemicals IPO, retail investors will have to invest in at least 67 shares. The minimum investment amount required for retail investors is ₹14,807. Whereas, the minimum lot size investment for SNII is 14 lots i.e. 938 shares, amounting to ₹207,298, and in the BNII category, minimum lot size investment is 68 lots i.e. 4,556 shares, amounting to ₹1,006,876.
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