Discover the hottest investment opportunity of the year with JG Chemicals IPO! Dive into the details, objectives, and financial performance, and secure your chance to be part of this lucrative journey towards financial prosperity.
JG Chemicals IPO: An Inviting Opportunity
In the dynamic world of finance, JG Chemicals, a prominent manufacturer of zinc oxide, is extending an invitation to investors through a public offer valued at Rs 251.19 crore. This opportunity is scheduled to kick off on March 5, with an anchor book opening a day earlier, on March 4, aiming to captivate the interest of potential investors.
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Offer Details
The JG Chemicals IPO offering encompasses a diverse array of details and insights. Beginning on March 5, 2024, and concluding on March 7, 2024, investors will have the opportunity to subscribe to the IPO within a price range of Rs 210-221 per share. Alongside fresh shares valued at Rs 165 crore from the company, the offering includes an offer-for-sale (OFS) of 39 lakh equity shares by prominent selling shareholders such as Vision Projects & Finvest, Jayanti Commercial, Suresh Kumar Jhunjhunwala (HUF), and Anirudh Jhunjhunwala (HUF).
The allocation of proceeds from JG Chemicals IPO is focused on strategic objectives. A substantial portion, Rs 91.06 crore, is earmarked for the material subsidiary, BDJ Oxides, while Rs 35 crore is dedicated to long-term working capital requirements. The remaining funds will be channeled towards general corporate purposes.
For potential investors, the minimum investment threshold is set at 67 equity shares, with the option to bid in multiples thereof. This translates to a minimum investment of Rs 14,070 at the lower price band, and up to Rs 14,137 at the upper end.
Company Profile
JG Chemicals’ profile in the industry is distinguished by its specialization in manufacturing zinc oxide, offering a wide array of over 80 product grades. These products find application across diverse sectors including ceramics, paints, pharmaceuticals, electronics, and agriculture. The company operates three manufacturing facilities located in West Bengal and Andhra Pradesh, further solidifying its presence in the market.
The management of this significant financial endeavor is entrusted to reputable book-running lead managers, including Centrum Capital Limited, Emkay Global Financial Services Ltd, and Keynote Financial Services Ltd. Serving as the registrar for the issue is Kfin Technologies Limited. Anticipation surrounds the listing date of the JG Chemicals IPO, expected to debut on the BSE and the NSE on March 13, 2024. This eagerly awaited event represents an exciting opportunity for investors to partake in the journey of a promising enterprise.
Bhaarat Bulletin’s Shikha Rai, Bimal Dev, and Moneycontrol have contributed to the above report
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