JG Chemicals IPO allotment: check status, key details & more

Leading zinc oxide producer JG Chemicals is expected to announce the allotment of shares on 11 March after the successful close of its initial public offering.

The ₹251-crore public offer of the West Bengal-based company received a strong demand from public investors. The issue was subscribed a little over 27 times with robust bids from qualified institutional players.

The company will now announce the share allotment which would be through the lottery system. JG Chemicals is likely to initiate refunds and demat transfers on 12 March. The company will make its market debut on 13 March by listing shares on both NSE and BSE.

The company will notify investors who will be allotted shares through email and SMS. Investors can also check the status of share allotment on the official websites of NSE and BSE as well as the company registrar, Kfin Technologies Ltd. They need to fill in simple details and can easily check if they have been able to bag shares in the IPO.

Follow these steps to check the share allotment of JG Chemicals.

Allotment status on registrar website

• Visit KfinTechnologies Ltd’s official website (https://www.kfintech.com)
• Go to Products sections
• Click on IPO share allotment
• Click on Select Company - JG Chemicals Ltd
• Enter your application number or PAN number, or client ID.
• Enter the captcha code and click Submit.

Check status on NSE website (https://www.nseindia.com)

You need to register yourself on the NSE website to generate a username and password.

• Go to the official NSE website
• Login with username and password provided by NSE
• Select JG Chemicals Ltd
• Verify PAN number
• Enter the IPO application number
• Click on Submit

How to check the status on the BSE website

• Go to the official website of BSE (https://besindia.com)
• Click on Investors and go to Investor Services
• Click on Application Status (https://www.bseindia.com/investors/appli_check.aspx)
• Select JG Chemicals Ltd
• Enter your application number and PAN
• Click on Search
• The details will be available only if the share allotment is done

More about the JG Chemicals IPO

The maiden public offer of JG Chemicals IPO opened for public subscription on March 5 and bidding closed on March 7. The issue comprised a fresh issue of shares worth ₹165 crore and an offer for shares of 3,900,000 equity shares worth ₹86 crore at the upper limit. The price band was ₹210-221 per share. Promoters Suresh Kumar Jhunjhunwala (1,260,000) and Anirudh Jhunjhunwala (610,000) and Vision Projects & Finvest Pvt Ltd (2,028,900) and Jayanti Commercial Ltd offloaded their stake through the OFS route.

The company has proposed to utilise the IPO proceeds for investment in a material subsidiary BDJ Oxides and funding working capital requirements.

According to exchange data, the IPO received cumulative bids for 22,69,66,453 equity shares against 81,68,714 equity shares on offer.

The Qualified Institutional Buyers (QIBs) category was subscribed around 32 times as a total of 7,34,93,841 bids were received against 22,90,142 equity shares.

The non-institutional investors’ category garnered demand for 8,17,03,351 equity shares against 17,63,572 equity shares on offer, subscribing by 46.32 times.

The retail individual investors (RIIs) category attracted 17.43 times subscription as total bids for 7,17,69,261 equity shares were received against 41,15,000 on offer.

The Kolkata-based company raised a total of ₹75 crore from anchor investors on March 4. Anchor investors included Massachusetts Institute of Technology, Pinebridge Global Funds, SBI General Insurance Company and Carnelian Structural Fund.

JG Chemicals is one of the leading zinc oxide producers in India. The company markets more than 80 grades of zinc oxide. It figures among the top ten producers of zinc oxides globally.

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