JG Chemicals IPO opens for subscription: Check price band, share allotment and key details
Upstox
2 min read • Updated: March 5, 2024, 2:15 PM
Summary
Between FY21 and FY23, the company, which is a manufacturer of zinc oxide, saw a rise of 21% in its revenue from operations and 25% growth in its profit on a CAGR (compound annual growth rate) basis. The zinc oxide market in India is also expected to grow at a CAGR of 10% to 12% between FY22 and FY27.
The initial public offering (IPO) of JG Chemicals Limited opened for subscription on Tuesday, March 5, 2024 and will be live till Thursday, March 7. The company has already raised ₹75.35 crore from anchor investors.
The zinc oxide manufacturer has set a price band of ₹210-₹221 per equity share and is planning to raise ₹251 crore from the public issues. The IPO comprises a fresh issue of up to ₹165 crore and an offer for sale (OFS) of ₹86.19 crore.
JG Chemicals IPO: Lot size, price band, share allotment and key details
- JG Chemicals IPO date: March 5 to March 7, 2024
- Price band: ₹210-₹221 per equity share
- Issue size: ₹251 crore
- Lot size: Investor can bid for a minimum of 67 shares
- JG Chemicals IPO allotment status: March 11
- Credit of shares to demat account: March 12
- JG Chemicals IPO listing date: The shares will be listed on March 13 on the BSE and NSE.
About JG Chemicals
Incorporated in 2001, JG Chemicals Limited is India's largest zinc oxide manufacturer and among the top 10 manufacturers of zinc oxides in the world.
It sells over 80 grades of zinc oxide. At the same time, its products are used in tyre and other rubber products, paints and coatings, ceramics, pharmaceuticals and cosmetics, agro-chemicals and fertilisers, electronics and batteries, oil and gas, speciality chemicals, lubricants and animal feed.
JG Chemicals supplies to all of India's top 11 tyre manufacturers and 9 out of top 10 tyre manufacturers across the globe.
Between FY21 and FY23, the company, which is a manufacturer of zinc oxide, saw a rise of 21% in its revenue from operations and 25% growth in its profit on a CAGR basis. The zinc oxide market in India is also expected to grow at a CAGR of 10% to 12% between FY22 and FY27, which could benefit the company.