Investors lined up for JG Chemicals Limited IPO
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JG Chemicals Limited IPO: There is a lot of enthusiasm among investors regarding the IPO of JG Chemicals, the largest zinc oxide manufacturing company in the country. As soon as the IPO opened, Phool got subscribed. It received 2.46 times subscription from investors on the first day. According to NSE data, bids were received for 2,00,55,244 shares against 81,68,714 shares in the company’s initial share sale worth Rs 251.2 crore. The portion of retail individual investors (RIIs) was subscribed 3.62 times, while the portion of non-institutional investors was subscribed 2.90 times. The qualified institutional buyers (QIB) segment received two per cent subscription. New shares worth up to Rs 165 crore have been issued in the IPO. Also, 39 lakh equity shares are included in the Offer for Sale (OFS).
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What are the company details?
JG Chemicals Limited IPO The price range for is Rs 210-221 per share. JG Chemicals on Monday said it has raised over Rs 75 crore from anchor investors. 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 requirements of the company. Additionally, a portion will be used for general company functioning. The Kolkata-based company is India’s largest zinc oxide producer in terms of production and revenue. It sells more than 80 grades of zinc oxide and is among the top ten manufacturers of zinc oxide globally.
When will the allotment of shares take place?
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.
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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